Excel Capital Partners

Excel Capital Partners

Excel Capital Partners conducts its investment program from Madrid, United States, concentrating on private credit and asset-based lending. The firm originates and structures transactions directly, targeting deals where collateral quality and documentation terms can be negotiated to senior, risk-mitigated positions. Its approach favors commercial and industrial lending, real estate bridge financing, and special situations that require bespoke capital solutions — areas where traditional bank retrenchment has left a persistent funding gap. Investment activity spans multiple asset classes including secured corporate loans, equipment finance, and real estate debt. Excel Capital Partners structures deals ranging from senior secured term loans to mezzanine positions with equity co-investment features, typically in the lower middle-market where transaction sizes deter larger direct lenders. The firm underwrites to asset coverage, cash-flow durability, and recovery scenarios rather than sponsor-led auction dynamics, positioning its portfolio for yield premiums with structural downside protection. Geographic focus centers on US-based borrowers, though cross-border exposure to Latin American obligors appears in select transactions where jurisdictional risk is manageable and collateral is enforceable. As a boutique manager, Excel Capital Partners maintains a lean operational profile and deploys capital through discretionary separate accounts and commingled vehicles. Team size and total assets under management remain undisclosed. The firm does not publicly report net asset values, investor letters, or regulatory filings that would confirm its current scale. In April 2025, the firm's website domain registration was updated, indicating ongoing operational continuity but yielding no additional disclosure on deployment or staffing. What distinguishes Excel Capital Partners structurally is its origination model: the firm sources directly from borrowers and intermediaries without relying on broadly marketed syndications or bank-led processes. This allows for negotiated covenant packages, bespoke amortization schedules, and customized security arrangements that mass-market credit funds cannot replicate. In an era of covenant-lite broadly syndicated loans, a manager that underwrites and enforces hard covenants from a position of direct origination represents a genuinely different risk profile for institutional allocators evaluating private credit exposure.