What Rochefort does

Rochefort Asset Management is a privately held U.S. private credit manager that originates and structures senior secured loans of up to $100 million for middle market borrowers operating in 14 critical technology areas identified by the U.S. Department of War — including Trusted AI & Autonomy, Microelectronics, Space Technology, Hypersonics, Directed Energy, Biotechnology, Advanced Materials, and Quantum Science. The firm was created in December 2022 as a joint venture between Hayman Capital Management (founded 2005 by J. Kyle Bass) and Serengeti Asset Management (founded 2007 by Joseph A. LaNasa III) specifically to participate in the federal Critical Technologies Initiative (CTI), which combines DoW scientific expertise with Small Business Administration program execution. Loans are structured as medium-term senior secured debt overcollateralized by revenue, assets, and overall enterprise value, and the firm selectively participates in equity rounds (e.g., leading Divergent Technologies' $290M Series E in September 2025).

The business model is direct private credit lending: Rochefort earns interest income on its loan portfolio and management-related economics from its JV sponsors, with pricing negotiated per transaction rather than disclosed publicly. Go-to-market relies on direct networking with policymakers, entrepreneurs, and inventors, supplemented by earned media and senior-executive thought leadership. Its primary customer segment is U.S. middle market defense technology companies that are deemed critical to national and economic security but face non-conforming credit metrics that prevent access to conventional bank financing. The firm emphasizes providing non-dilutive capital to founders during pivotal growth phases, positioning borrowers for subsequent traditional financing. Disclosed portfolio activity spans Red 6 Aerospace, Firehawk Aerospace, Metatek Group, Uo Arms, and Divergent Technologies, with one realized exit (ALL.SPACE's announced acquisition by York Space Systems in May 2026) and one successful IPO outcome (Metatek on the Toronto Stock Exchange in March 2026).

Name

Rochefort

Legal name

Rochefort Asset Management LLC

Website

https://rochefort.us

Company type

Private

Operating status

Operating

Short description

Rochefort Asset Management provides senior secured loans up to $100 million to U.S. middle market companies in Department of War-designated critical technology sectors. The firm is a joint venture between Hayman Capital Management and Serengeti Asset Management, licensed under the federal Critical Technologies Initiative.

Ownership category

akta.pro rank

Product category

Private Credit Lending

NAICS

Other Investment Pools and Funds (5259)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

akta.pro secondary industry

Venture Debt Providers (FSANAAAL)

Keywords

• Private credit lending
• Middle market financing
• Defense technology investment
• Senior secured loans
• National security capital

Headquarters

HQ city

West Palm Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Senior Secured Loan Interest: Rochefort provides senior secured debt financing to middle market borrowers in critical technology areas. The firm earns interest income on its loan portfolio, with loans structured to be firmly tied to the enterprise and overcollateralized by revenue, assets, and overall enterprise value.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Rochefort Asset Management is a private credit manager that provides senior secured debt financing of up to $100 million to U.S. middle market borrowers in 14 critical technology areas identified by the Department of War. The firm targets companies whose non-conforming credit metrics limit access to conventional bank financing and offers a non-dilutive alternative to equity capital, structuring medium-term loans overcollateralized by revenue, assets, and enterprise value. It operates as a joint venture between Hayman Capital Management and Serengeti Asset Management and is a licensed manager in the Critical Technologies Initiative (CTI).

Product overview

Rochefort Asset Management is a private credit manager that provides debt capital to middle market borrowers in critical technology areas focused on U.S. national and economic security. Rather than offering technology products, the firm specializes in senior secured loans up to $100 million for companies facing challenges accessing conventional funding. Their investment focus spans 14 critical technology areas identified by the Department of War, including trusted AI and autonomy, microelectronics, space technology, hypersonics, directed energy, biotechnology, and advanced materials. As a joint venture between Hayman Capital Management and Serengeti Asset Management participating in the Critical Technologies Initiative (CTI), they do not offer standalone software products, platforms, or modules—their offering is financial services and capital solutions for defense and national security sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Senior Secured Loans (up to $100 million) Medium-term senior secured debt facilities up to $100 million for U.S. middle market companies in 14 Department of War critical technology areas (including Trusted AI & Autonomy, Microelectronics, Space Technology, Hypersonics, Directed Energy, Biotechnology, Advanced Materials, Quantum Science, and others). Loans are overcollateralized by revenue, assets, and overall enterprise value and are designed as a non-dilutive alternative to equity financing for founders in pivotal growth phases.

Named customers5 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• U.S. Department of War Office of Strategic CapitalcoreStrategic or Co-development Partner · 1 December 2022Rochefort Asset Management is licensed under the Department of War's Office of Strategic Capital and participates in the Critical Technologies Initiative (CTI). The CTI combines the DoW's scientific and technical expertise and national security mission with the Small Business Administration's program execution experience.
• U.S. Small Business AdministrationcoreStrategic or Co-development Partner · 1 December 2022The Small Business Administration partners with the Department of War through the Critical Technologies Initiative. Rochefort participates as a licensed manager in this initiative designed to attract private investment into areas deemed critical to national and economic security.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Runway Growth Finance Corp: Externally managed business development company providing senior secured loans to U.S. growth-stage and middle-market companies. Direct competitor in growth/middle-market senior-secured lending with overlapping tech borrower profiles.
• Trinity Capital Inc. Internally managed specialty lender providing senior secured loans and equipment financing to growth-stage companies, with a strong technology and life-sciences orientation. Highly comparable in deal sizing, structure, and growth-stage tech borrower focus.
• Horizon Technology Finance: Specialty finance company providing senior secured loans to development-stage and commercial-stage technology, life science, and sustainability companies. Comparable venture-debt-style senior-secured lending to growth-stage technology borrowers.
• WhiteHorse Capital: Private credit manager (affiliated with H.I.G. Capital) providing senior secured loans to U.S. middle-market companies. Comparable in middle-market direct lending mandate, senior-secured structure, and target borrower profile.
• Atalaya Capital Management: Alternative asset manager focused on private credit and special situations, including senior secured lending to middle-market and venture-backed companies. Overlaps with Rochefort in complex capital solutions and middle-market direct lending.
• Maranon Capital: Private credit investment manager providing senior secured loans to U.S. middle-market borrowers across multiple sectors. Direct comparator in middle-market senior-secured loan structuring and underwriting.
• NewSpring Capital: Private equity and credit firm providing growth and structured capital to U.S. middle-market companies, including via senior debt and mezzanine. Comparable middle-market borrower focus and growth-stage capital solutions.

Emerging players

• Stellex Capital Management: Middle-market private equity firm with a dedicated Aerospace, Defense & Government Services franchise and active in the same critical-technology/defense-industrial-base theme. Comparable in defense-tech borrower focus, but equity rather than credit.

Broad incumbents

• AE Industrial Partners: Private equity firm specializing in aerospace, defense, and national security investments. Operates in the same defense-industrial-base borrower universe but as a much larger incumbent with both equity and credit capabilities.
• PennantPark: Public BDC and credit fund manager focused on U.S. middle-market senior secured loans. Larger incumbent in the same middle-market senior-secured lending category with broadly diversified sector exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments6 records

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

Frequently asked questions about Rochefort