Czech Asset Management, L.P. Raises Revolving Credit Facility Fund – Firm Assets Under Management (“AUM”) Approximate $4.5 Billion Of Invested Capital And Capital Commitments
OLD GREENWICH, Connecticut, Nov. 7, 2017 /PRNewswire/ — Czech Asset Management, L.P. (“Czech”) today announced the formation of SJC Direct Lending Revolver Fund III, L.P., (the “SJC Revolver Fund”), a direct lending fund focused primarily on revolving credit facilities, which Czech expects will serve as a complement to Czech’s existing flagship direct lending funds. All of the capital raised in the SJC Revolver Fund came from existing Czech investors and was raised in less than three months. Czech’s global investor base is comprised of public and private pension funds, endowments, foundations, Taft-Hartley plans, family offices and high-net worth individuals.
The SJC Revolver Fund is a direct lending strategy focused primarily on providing privately negotiated, floating-rate, senior secured, asset-based and cash flow revolving credit facilities to U.S. middle market companies that generate annual revenue of $75.0 to $500.0 million + and annual EBITDA of $7.5 to $50.0 million +.
According to Steve Czech, Managing Partner and Chief Investment Officer, “We are extremely grateful to our investors for their continuing trust and confidence. The SJC Revolver Fund enables prospective borrowers to reduce the complexity, documentation, transaction expense and time-to-close by having 24/7/365 access to the decision-maker of a single lender. In addition, the SJC Revolver Fund enables Czech to provide its prospective borrowers with a true “one-stop” secured debt financing solution from revolving credit facility through the term loan.”
About Czech Asset Management, L.P.: Czech, with approximately $4.5 billion of committed and invested capital and significant co-investment capacity, is an Old Greenwich, Connecticut-based direct lending firm engaged in providing privately negotiated, asset-based and cash-flow, floating-rate senior secured revolving credit facilities and first and second lien term loans primarily to U.S. middle market companies that generate annual revenue of $75.0 million to $500.0 million + and annual EBITDA of $7.5 million to $50.0 million +.
About Stephen J. Czech: Steve Czech has over 28 years of credit underwriting and corporate finance experience as well as a long record of establishing and running direct lending credit funds. His experience includes sourcing, structuring, underwriting, monitoring and restructuring corporate loans. Prior to forming Czech, Steve was employed by several prominent firms, including, but not limited to, Morgan Stanley, Credit Suisse Group AG, Donaldson, Lufkin & Jenrette (“DLJ”) and Banc of America Securities LLC. Steve and his family are significant donors to, and advocates of, causes related to terminally-ill children; active-duty and retired Navy SEALs and their families; first-responders (i.e., police, fire and emergency medical technicians); and scholarships for underprivileged high-school students throughout the United States. Steve is the founder and Co-Chairman of The Mikey Czech Foundation, a member of the Advisory Board of The University of Chicago Booth School of Business, a Laureate member of the Dean’s Society of The University of Chicago Booth School of Business, a member of Villanova University’s President’s Club & Parents Executive Committee, a member of the Benacerraf Society of Harvard Medical School/Dana-Farber Cancer Institute and a member of the Harvard Medical School/Dana-Farber Visiting Committee for Pediatric Oncology. Steve received a B.S. from Marquette University and an MBA from the University of Chicago Booth School of Business.