Pathlight Capital Launches Latest ABL Credit Fund, Raising $171.6M

Asset-based lender Pathlight Capital commenced fundraising for its latest fund, Pathlight Capital Onshore Fund IV, securing $171.6M in capital commitments since opening sales on January 14.

In a January 24 filing with the SEC, the private credit investment manager said five investors have so far committed to the new fund, for which it does not expect the offering to last more than a year. In late 2023, the firm raised $860.3M in total for its third flagship ABL fund, Pathlight Capital Fund III, and the initial tranche of related vehicle Pathlight Capital Evergreen Fund. At the time, the fundraising increased Pathlight's AUM to more than $2.7B.

Pathlight provides companies from various industries with asset-based loans secured with tangible and intangible assets. According to its website, the financing it provides has been used for working capital, debt refinancing, growth, acquisitions, dividends and turnaround strategies. The company's portfolio includes Armstrong Flooring, Barnes & Noble, Designer Brands and Hudson's Bay Company.

Written By: Dakota

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