<!-- Swiftype Variables -->


Twin Brook Capital brings in $2.3 billion total in latest fundraising

Twin Brook Capital Partners, closed its AG Direct Lending Fund II with $1.6 billion, exceeding its fundraising target by $600 million, according to a news release.

Twin Brooks, the middle-market direct-lending subsidiary of Angelo, Gordon & Co., also raised capital in associated separately managed accounts bringing the total to $2.3 billion. In 2016, AG Direct Lending Fund I and associated separately managed accounts raised $850 million.

Twin Brooks will invest the new capital in loans to private equity-owned companies with earnings before interest, tax, depreciation and amortization of $3 million to $50 million, focusing on companies with $25 million of EBITDA or lower.

Investors in the new fund include the $47.3 billion Illinois Teachers' Retirement System, Springfield.