Silver Point Launches Second Nontraded BDC, Raises $215M

Silver Point Capital LP has launched a second nontraded business development company, Silver Point Private Credit Fund, expanding the Greenwich, Conn.-based credit manager’s footprint in the retail alternatives channel.

The new fund elected to be regulated as a BDC under the Investment Company Act of 1940 in February and registered its securities under Section 12(g) of the Exchange Act on Feb. 2. It has since raised approximately $215.8 million across two unregistered share placements made under Regulation D and Section 4(a)(2) of the Securities Act, according to a series of disclosures.

The fund sold 7,053,752 Class I shares at $27 per share for aggregate proceeds of approximately $190.45 million effective Feb. 2, with final share counts determined Feb. 23. A second placement closed effective April 1, with 949,126 shares sold at $26.66 per share for aggregate proceeds of approximately $25.3 million, finalized April 24. The roughly $0.34 decline in placement price between the two rounds tracks a small net asset value decrease over the period.

Silver Point Private Credit Fund’s board declared a regular monthly dividend of $0.1575 per share for shareholders of record as of April 30, payable on or before May 31. The fund has paid distributions at the same rate since its February launch.

Silver Point Specialty Credit Fund Management LLC, the same registered investment adviser that manages publicly registered Silver Point Specialty Lending Fund, advises the new vehicle through an affiliated management entity, Silver Point Private Credit Fund Management LLC.

The launch positions Silver Point alongside a small group of credit managers running parallel public and private nontraded BDCs targeting accredited and institutional channels with the same underlying credit strategy.

Separately, Silver Point filed an amended exemptive application seeking expanded co-investment relief that would permit the new fund to participate alongside Silver Point Specialty Lending Fund and other Silver Point-managed entities in negotiated investments otherwise prohibited by Sections 17(d) and 57(a)(4) of the 1940 Act. The amended application would supersede an existing exemptive order issued by the Securities and Exchange Commission on April 6.

Silver Point Capital, founded in 2002 by Edward Mulé and Robert O’Shea, manages credit-focused strategies including specialty lending, distressed opportunities and structured credit. As previously reported by AltsWire, Silver Point Specialty Lending Fund’s board approved a 1-for-2 reverse share split in late 2025 in connection with executive leadership changes; Mulé stepped back from his executive titles at the publicly registered fund to focus on portfolio management duties at Silver Point Capital and its affiliates.

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