Andrew Hedlund
The private income allocation category has already surpassed the $700m target the limited partner set for fiscal year 2017.
The fund will also invest in other credit vehicles as well as secondaries transactions.
Despite the ending of the partnership, Antares will continue to provide unitranche facilities through other means.
The New York-based firms, a behemoth of a financial institution and a respected turnaround investor, respectively, have set up a five-year vehicle.
The previous fund surpassed its $1bn target after wrapping up fundraising last spring.
The investment firm is also in market with a private debt vehicle.
The Financial Choice Act has managers rubbing their hands at the prospect of more flexible financing options.
The new entity would have the same management and incentive fees as the existing BDC.
The firm’s publicly traded mid-market lending vehicle also raised additional capital through a public stock offering.
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The venture debt investor’s independent board members will hire an outside help to evaluate its management structure.