SKW Funding and Bain Capital Credit form second JV

SKW Funding, a private lending and distressed debt platform, and Bain Capital Credit have formed a second joint venture targeting special situation loan originations as well as sub- and non-performing note acquisitions.

The partnership is planning to target an additional $1.3 billion of acquisitions and loan originations over the next several years. It has already made its first acquisition, a $42 million note purchase secured by an office building portfolio in Austin, Texas, which was followed by a $410 million loan origination secured by an office building on Wall Street in New York City.

SKW and Bain Capital provided mezzanine debt financing.

“We continue to find excellent relative value in debt opportunities in the New York City market and other core geographies, particularly in COVID-impacted asset classes like office space,” said David DesPrez, a director at Bain Capital Credit. “We are excited to expand our relationship with the entire SKW team and