Chicago, IL, January 12, 2023 — The Vistria Group (“Vistria”) announced a final closing on Vistria Structured Credit Fund I, LP (the “Fund”), targeting debt and debt-related investments in U.S. middle market companies in the healthcare, knowledge & learning solutions, and financial services industries. The Fund represents Vistria’s first foray into debt investing, closing on $715 million of capital through a limited distribution with the Firm’s existing investor base.
“Private debt is a natural extension of our core vision and investment strategy. We see unique and differentiated opportunities to provide credit in our target industries and are excited to announce the final close of our Credit Fund as a foundation to building a strong Vistria Credit platform over time.” said Kip Kirkpatrick, Co-Chairman and Co-CEO of The Vistria Group.
Katie Hockman will lead the initiative as Partner and Head of Debt Capital Markets and Credit, bringing more than 25 years of expertise in M&A with the last 20 in sponsor-backed middle market lending. By continuing to invest in opportunities to accelerate the health, education and financial wellbeing of communities, the Fund will build on Vistria’s founding thesis to deliver attractive financial returns while achieving positive outcomes for portfolio companies and the lives and livelihoods they support. The Fund will have the ability to invest in both Vistria equity-owned companies and non-Vistria equity-owned companies across the Firm’s Targeted Sectors and will invest flexibly across the capital structure, with a primary focus on unitranche, junior debt and structured equity.
“The Fund’s investment objective is to generate current income and long-term capital appreciation through investments in credit and junior capital. The current compelling market conditions for credit investing, combined with fresh capital to invest, the Fund’s flexibility and the ability to tap into Vistria’s deep bench of operating talent, infrastructure, and institutional partnerships creates a unique opportunity that we are excited to seize.” Hockman said.
“Our extension into private credit is indicative of the Firm’s maturity over the last 10 years and an important building block as we continue to grow,” said Marty Nesbitt, Co-Chairman and Co-CEO of The Vistria Group. “Katie is the best choice to lead in this new chapter, bringing a wealth of experience in private debt financings and investments. We are excited for the many opportunities ahead.”
“I have spent my entire career in the middle market with the past two decades focused on lending to private equity-backed companies and I look forward to bringing that experience to Vistria and this Fund,” Hockman added. “The vision and mission of Vistria and its focus on making an impact in the community resonates deeply with me and I am thrilled to be a part of realizing this vision.”
About The Vistria Group
The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. It invests in essential industries like healthcare, knowledge and learning and financial services that deliver value for investors as well as communities, employees, and consumers. The Vistria Group works as a true partner with its portfolio companies, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth. With over $10 billion in AUM, The Vistria Group believes it has delivered attractive returns for its investors while achieving positive outcomes for its portfolio companies, and the lives and livelihoods it supports. For more information, please visit vistria.com.