The fund has a $350 million target, according to a source familiar with the situation.
New York-based Golub Capital benefitted from a short revival of interest in mezzanine debt in the early days of the credit crunch. Prior to the credit crunch, senior lenders aggressively beat subordinated debt providers in speed, rate of closing and flexibility of terms, Lawrence Golub, president of Golub Capital, previously said.
“It was a depressing time to be a traditional mezzanine” provider, Golub said. “Especially if you have no leverage, you’re getting whipped on most deals.”
At the time, the firm had placed on hold its plans to go publi
Earlier this year, the firm raised $200 million for GC Opportunity Fund II. —Erin Griffith