Kirkland & Ellis Advises Pathlight Capital on $1.9 Billion Close of Oversubscribed Fund IV and Evergreen Fund

"Kirkland & Ellis advised Pathlight Capital on the formation of Pathlight Capital Fund IV LP and the launch of the Pathlight Capital Evergreen Fund (Tranche No. 2), which closed with over $1.9 billion in commitments, surpassing a $1.5 billion target. Fund IV included a $100 million rated note feeder vehicle to broaden access to insurance company clients."

Kirkland & Ellis advised Pathlight Capital on the formation of its fourth flagship fund, Pathlight Capital Fund IV LP, and the launch of the parallel Pathlight Capital Evergreen Fund (Tranche No. 2). The funds closed with over $1.9 billion of capital commitments, exceeding a $1.5 billion fundraising target. Fund IV also included the launch of a $100 million rated note feeder vehicle designed to provide enhanced access to insurance company clients. Fund IV and the Evergreen Fund drew a diverse mix of investors, including pensions, insurance companies, financial institutions, foundations, funds of funds and family offices. Pathlight Capital pursues an asset-backed lending strategy, making asset-based loans secured on a first- or second-lien basis against tangible and intangible assets. Kirkland & Ellis represented Pathlight Capital with a team composed by: investment funds lawyers Richard Shamos and Sean Hill; structured capital & insurance solutions lawyer Kate Luarasi; and tax lawyer Mike Greenberg.

Kirkland & Ellis Advises Pathlight Capital on $1.9 Billion Close of Oversubscribed Fund IV and Evergreen Fund

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