Golub Capital announced that the Golub Capital Private Credit Fund (GCRED), a non-traded business development company, broke escrow with approximately $650 million in net proceeds on June 30, 2023.

Golub Capital, founded in 1994, is a leading lender to middle market companies with over $60 billion of capital under management as of April 1, 2023. GCRED will access Golub Capital’s leading U.S. debt platform, proprietary deal flow, disciplined underwriting process and experienced management team. The Fund seeks to generate current income and capital appreciation by investing primarily in privately originated and privately negotiated investments, predominantly through direct lending to U.S. private companies in the middle market and upper middle market in the form of one stop and other senior secured loans.

“Golub Capital has a 20-year track record of investing in loans to middle market companies and building long-term partnerships with leading private equity sponsors,” said David Golub, President of Golub Capital. “We are pleased to provide private wealth investors greater access to what we believe is a differentiated offering from an experienced manager with a specialized focus on private credit.”

Golub Capital’s Intermediary Wealth Solutions business is a dedicated team focused on delivering compelling investment solutions and gold-standard client service to the private wealth market via wirehouses, regional broker-dealers, private banks, registered investment advisors and other intermediaries.  

“We are seeing tremendous interest from private wealth investors in accessing Golub Capital’s private credit expertise and the success of the GCRED private offering reflects that,” said Tom Burt, Managing Director and Head of Intermediary Wealth Solutions at Golub Capital. “Our team looks forward to working with our existing and new partners to continue to provide compelling solutions suited to the needs of the private wealth market.”

Tom Burt joined Golub Capital in June 2022 and the Intermediary Wealth Solutions team has since expanded to 7 people across the United States.

As part of Golub Capital’s continued expansion into the private wealth market, the Firm announced a partnership with fintech platform iCapital in 2022, which would extend access to Golub Capital’s private credit strategies to the wealth managers on the iCapital platform.