Kirkland & Ellis Advised Pathlight Capital On The Close Of Oversubscribed Fund IV And Evergreen Fund At $1.9 Billion

Kirkland & Ellis advised Pathlight Capital on the close of oversubscribed Fund IV and Evergreen Fund at $1.9 billion

The leading international law firm Kirkland & Ellis acted as legal counsel to Pathlight Capital on the formation of its fourth flagship fund, Pathlight Capital Fund IV LP (Fund IV), and the launch of its parallel Pathlight Capital Evergreen Fund (Tranche No. 2) (Evergreen Fund), which together closed over $1.9 billion of capital commitments, exceeding the $1.5 billion fundraising target. Fund IV also included the launch of a $100 million rated note feeder vehicle to provide enhanced access to insurance company clients.

Both Fund IV and the Evergreen Fund attracted a diverse mix of investors, including pensions, insurance companies, financial institutions, foundations, funds of funds, and family offices. Pathlight Capital pursues an asset-backed lending strategy, making loans secured on a first or second lien basis against tangible and intangible assets.

This close underscores Kirkland & Ellis’ expertise in advising investment funds, structured capital, and tax matters on complex fund formation and capital-raising transactions.

The Kirkland & Ellis team advising on the transaction included Richard Shamos (Partner, Los Angeles), Sean J. Hill (Partner, Boston), Kate Luarasi (Partner, Boston), and Mike Greenberg (Partner, Los Angeles).

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