Golub Commits $1 Billion to Back Other PE Firms’ Secondary Funds

Golub Capital is committing at least $1 billion of its own money to a new strategy that will back other private equity firms’ continuation vehicles, allowing them to hold onto their assets longer.

The firm will also raise capital for its dedicated fund, which will back continuation vehicles in private equity-owned middle market companies in the US and Europe, Golub said in a statement Thursday.

It will largely back single-asset continuation funds, according to a person familiar with the matter, who asked not to be identified because the information isn’t public.

Greg Cashman — the co-head of direct lending who ...