TPG Twin Brook Capital Partners and Coller Capital have launched a $3 billion credit-focused continuation vehicle, marking the largest transaction in the private credit secondaries market to date.

Information on the Target

TPG Twin Brook Capital Partners, a leading middle-market direct lending platform, has successfully established a $3 billion credit-focused continuation vehicle. This initiative aims to acquire a diverse selection of floating-rate, senior secured, sponsor-backed loans primarily sourced from TPG Twin Brook’s vintage funds of 2016 and 2018. The vehicle not only represents an innovative strategy for maintaining investor alignment but also enhances liquidity options for existing stakeholders while providing new investors with access to a premium pool of private credit assets.

Industry Overview in the United States

The private credit market in the United States has seen remarkable growth and maturation over the past decade, as institutional investors increasingly seek alternative assets that offer attractive returns in a low-yield environment. The expansion of this sector is driven by strong demand for flexible financing solutions that traditional banks often do not provide. Consequently, private lending has become a critical component of the financial ecosystem, facilitating growth for middle-market companies across various industries.

Furthermore, the private credit secondaries market is evolving rapidly, with transaction volumes rising significantly as investors recognize the benefits of liquidity and diversification available throug