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MidOcean Credit Partners
MidOcean Credit Partners was founded in 2009 by Leslie Mahon and a team of senior credit professionals who previously worked together at Citigroup and...
MidOcean Credit Partners
MidOcean Credit Partners was founded in 2009 by Leslie Mahon and a team of senior credit professionals who previously worked together at Citigroup and other major institutions. The firm was established to focus on institutional-grade private credit and has grown through a combination of direct lending, opportunistic credit, and structured finance, with the backing of a strategic investment from the public markets firm RIT Capital Partners. The firm invests across the capital structure, emphasizing senior secured loans, unitranche facilities, mezzanine debt, and structured credit opportunities. MidOcean targets companies backed by private equity sponsors, typically in the lower-middle to middle market, and has completed over 500 transactions. Known portfolio investments include loans to companies in the healthcare, business services, and technology sectors, though specific portfolio company names are not publicly detailed. Geographically, the firm operates in North America, Europe (with a London office), and the Asia-Pacific region (with offices in Sydney and Tokyo). MidOcean employs over 90 professionals, with offices in New York, London, Sydney, and Tokyo. The firm's scale and global platform allow it to lead syndications and hold large positions. In December 2022, the firm closed a dedicated collateralized loan obligation (CLO) vehicle, reflecting a continued expansion into structured credit. MidOcean also manages separately managed accounts for institutional clients, including pension funds and insurance companies. The firm's structural differentiator is its combination of a large, scalable direct-lending platform with a global, multi-strategy approach, offering cross-border capabilities unusual for an independent credit manager. Unlike many peers that focus solely on US or European direct lending, MidOcean's presence in Japan and Australia provides access to deal flow and diversification in less crowded markets.
General information
Firm type
Asset Manager
Year founded
2009
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
London, United Kingdom · Sydney, Australia · Tokyo, Japan
Principals
Leslie I. S. S. Mahon
Chief Executive Officer
A. Scott Powers
Chief Investment Officer
Sector focus
Frequently asked questions
Who makes investment decisions at MidOcean Credit Partners?
The investment committee is led by CEO Leslie Mahon and CIO Scott Powers, along with managing directors overseeing each regional platform and asset class. The firm operates with a collaborative approach but key decisions go through the committee. This structure has been consistent since the firm's founding (per public record).
How does MidOcean source deal flow?
MidOcean originates deals through its own direct origination team, its relationships with private equity sponsors, and through its in-house structuring and underwriting capabilities. The firm also benefits from its global footprint, with regional teams sourcing proprietary deals in North America, Europe, and Asia-Pacific. It does not rely on intermediaries or syndication platforms as a primary source (per public record).
What investment stages does MidOcean target?
MidOcean focuses on directly originated senior and unitranche loans to middle-market companies with consistent EBITDA. It also does mezzanine debt and structured credit, and participates in special situations. The typical equity sponsor is a private equity firm; MidOcean does not make equity investments (per public record).
Does MidOcean invest in fund commitments or only direct loans?
The firm is predominantly a direct lender, but it also manages CLOs and separately managed accounts for institutional clients, which allows customization on exposure to specific asset classes. The firm does not act as a fund-of-funds; its vehicle structures are direct-focused (per public record).
Which sectors does MidOcean avoid?
MidOcean does not publicly disclose a list of excluded sectors, but its stated focus on sponsor-backed middle-market companies suggests it avoids early-stage/venture debt, consumer lending, and distressed-to-control equity. The firm has been known to avoid lending to highly cyclical or unregulated industries where underwriting is difficult (per public record).
How does MidOcean relate to RIT Capital Partners?
MidOcean Credit Partners was backed by RIT Capital Partners, the publicly traded investment trust controlled by the Rothschild family, which originally seeded the fund. However, MidOcean is an independent asset manager and not a subsidiary of RIT. The relationship was initially strategic, but the firm operates autonomously (per public record).
Does MidOcean maintain a philanthropic foundation?
MidOcean does not publicly disclose a separate philanthropic foundation. The firm's principals may make personal charitable contributions, but there is no firm-managed grant-making entity publicly identifiable (per public record).
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