Fundraising - SEPTEMBER 12, 2018

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Locust Point Capital closes $312m senior housing and care debut fund

by Andrea Zander

Locust Point Capital has closed its debut fund, Locust Point Private Credit Fund.

The fund raised $312 million, exceeding its $250 million target.

Investors include pension funds, endowments, foundations, insurance companies and wealth advisers. Approximately two-thirds of the commitments came from U.S. investors, with the remaining one-third coming from European investors.

Through the fund, Locust Point Capital provides subordinate debt, preferred equity, and opportunistic senior mortgage loans to owner-operators in the seniors housing and care sector. The owner-operators use the fund’s capital to acquire, build, expand or renovate assisted living, memory care and skilled nursing facilities throughout the United States. This strategy provides owner-operators with a short-term, non-dilutive and flexible financing solution.

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