BOSTON, October 5, 2020 - Proskauer, a leading international law firm, today announced that its client Evolution Credit Partners Management ("Evolution" or the "Firm"), an alternative credit firm with over $1.6 billion in assets under management, completed the final close of its inaugural middle-market direct lending fund, Evolution Credit Partners I, L.P. ("ECP I" or the "Fund").
The Fund has approximately $565 million of investable capital, including leverage. Evolution received commitments from a prominent group of domestic and foreign limited partners including insurance companies, endowments and foundations, banks, family offices and high net worth individuals.
In addition to the close of ECP I, Evolution's contingent credit strategy fund, Evolution Credit Partners Finance I, L.P., had its final close raising $1.1 billion in equity commitments from a concentrated group of limited partners.
The Proskauer team included Howard Beber, Camille Higonnet, Kerry Shriver, Adam Sussman, Anabelle North, Arnold May, David Miller, Jean Bertrand, Philip Lenertz, Andrew Mandelbaum and Adam Scoll.
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