Locust Point Capital Closes $312M Seniors Housing Debut Fund

RED BANK, N.J. — Locust Point Capital has closed its debut fund, Locust Point Private Credit Fund LP. The company plans to provide subordinate debt, preferred equity, and opportunistic senior mortgage loans to owner-operators in the seniors housing and care sector.

The fund had an initial target of $250 million. However, after receiving strong interest from a diverse group of investors including pension funds, endowments, foundations, insurance companies and wealth advisors, the fund closed oversubscribed at $312 million. 

Approximately two-thirds of the commitments came from U.S. investors, with the remaining one-third coming from European investors. Shortly after the fund closed, Chicago-based investment bank Ziegler announced that it was among the anchor investors.

Avec Capital/XT Capital Partners acted as global placement advisor, and Morgan Lewis served as Fund counsel.

Based in Red Bank, Locust Point Capital is an alternative asset management firm.