LBC Credit Partners

What LBC Credit Partners does

LBC Credit Partners, now operating as CIFC Direct Lending, is a US private credit platform that provides direct lending and structured financing solutions to North American lower middle-market companies. Founded in 2005 and headquartered in Philadelphia, the firm maintains offices in Miami, New York, London, and Philadelphia, and has accumulated a 20+ year track record investing in the lower middle market. The platform serves companies that typically have limited access to traditional bank financing, offering direct lending, subordinated debt, and unitranche financing structures to corporate borrowers referred or advised by investment banks, financial sponsors, and intermediaries.

The firm operates an enterprise field sales go-to-market, sourcing and executing direct lending transactions directly with middle-market corporate borrowers and their financial advisors. Revenue is generated through a dual fee structure: recurring management fees tied to assets under management and performance fees aligned with portfolio returns. The company is led by co-founders Chris Calabrese and John Brignola, with Homyar Choksi serving as Deputy Chief Investment Officer, and employs 51-100 professionals across its four offices.

LBC Credit Partners has been rebranded as CIFC Direct Lending and now operates as part of CIFC, a global alternative asset manager specializing in credit. This corporate affiliation provides the firm with institutional infrastructure, capital resources, and cross-selling opportunities across CIFC's broader credit platform. The platform's underlying technology is its private credit investment infrastructure, focused on capital deployment into illiquid credit instruments, with no disclosed AI capabilities, software products, or proprietary technology platforms beyond core credit underwriting and portfolio management operations.

Name

LBC Credit Partners

Legal name

LBC Credit Partners

Website

https://lbccredit.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

LBC Credit Partners, now operating as CIFC Direct Lending, is a US private credit platform that provides direct lending, subordinated debt, and unitranche financing to North American lower middle-market companies, headquartered in Philadelphia with offices in Miami, New York, and London.

Ownership category

akta.pro rank

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Management Fees: Fees charged based on assets under management (AUM), providing a recurring revenue stream tied to the size of the investment portfolio managed.
2. Performance Fees: Fees tied to portfolio performance, aligning manager incentives with investor returns and generating upside in strong credit environments.

Go-to-market motion1 record

Distribution channels1 record

Core offering

LBC Credit Partners (now operating as CIFC Direct Lending) is a US private credit platform that provides direct lending, structured credit facilities, unitranche financing, and subordinated debt to North American middle-market companies. The platform generates revenue through management fees tied to assets under management and performance fees tied to portfolio returns, deploying capital into borrowers underserved by traditional bank lenders.

Product overview

LBC Credit Partners, now operating under the brand CIFC Direct Lending, is a US private credit platform offering financing solutions to North American middle-market companies. The platform generates revenues through management and performance fees tied to assets under management and portfolio performance. LBC Credit Partners (now CIFC Direct Lending) has a 20+ year track record of investing in the lower middle market. The company operates with locations in Miami, New York, London, and Philadelphia.

Differentiator

Problem solved

Functional benefit

Products and services

• CIFC Direct Lending (formerly LBC Credit Partners) US private credit platform providing direct lending, structured credit facilities, unitranche financing, and subordinated debt to North American middle-market companies. Generates revenue through management fees on assets under management and performance fees on portfolio returns.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• CIFCcoreOthersLBC Credit Partners is now branded as CIFC Direct Lending, operating as part of the CIFC Company platform. CIFC is a leading global alternative asset manager specializing in credit. This relationship provides LBC Credit Partners with expanded resources, institutional infrastructure, and cross-selling opportunities across CIFC's broader credit platform.

Scale indicators1 record

Recent moves3 records

Expansion highlights3 records

Direct peers

• HPS Investment Partners: HPS is a leading global credit-focused alternative asset manager with significant direct lending and private credit capabilities serving middle-market and large-cap companies. Direct comparable to LBC's core franchise.
• Golub Capital: Golub Capital is one of the largest direct lenders focused on the middle market, providing senior secured, unitranche, and junior debt financing. It is one of the closest comparables to LBC Credit Partners given overlapping product set and borrower profile.
• Blackstone Credit: Blackstone Credit is one of the largest direct lending and private credit platforms globally, serving middle-market and large-cap borrowers. Comparable to LBC in direct lending products and middle-market focus, though materially larger in scale.
• Blue Owl Capital (Owl Rock): Blue Owl's Owl Rock platform is a leading direct lending franchise focused on upper and middle-market companies. Highly comparable business model, product mix, and borrower profile to LBC Credit Partners.
• Stellus Capital Investment: Stellus Capital is a middle-market direct lender providing senior and unitranche debt to lower middle-market companies. Closely comparable to LBC in target borrower size, product mix, and credit focus.
• KKR Credit: KKR's Global Credit business includes a substantial direct lending franchise serving middle-market borrowers in North America and Europe. Highly comparable to LBC in product offering, geography, and borrower segment.
• Ares Management Credit Group: Ares is a major alternative asset manager with a large direct lending franchise (Ares Capital) focused on middle-market companies. Comparable to LBC in providing unitranche, senior, and subordinated debt to similar borrower segments.
• PennantPark Floating Rate Capital: PennantPark is a publicly traded BDC focused on middle-market direct lending with floating rate first lien, second lien, and mezzanine debt. Highly comparable borrower profile and product mix to LBC Credit Partners.
• Antares Capital: Antares Capital is a middle-market direct lender focused on unitranche, senior secured, and junior debt financing to private equity-backed and non-sponsored borrowers. Highly comparable to LBC's middle-market direct lending franchise.

Broad incumbents

• CIFC Asset Management: CIFC is the parent alternative asset manager of LBC Credit Partners (now CIFC Direct Lending) and a broader credit specialist platform. As parent, it provides institutional infrastructure and is the natural broader incumbent comparable for the overall platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/lbc-credit-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LBC Credit Partners