Andalusian Credit Partners

What Andalusian Credit Partners does

Andalusian Credit Partners (ACP) is a U.S. middle market direct lending platform founded in 2023 and headquartered in New York, operating as part of the integrated Andalusian Private Capital & Advisory platform alongside Andalusian Private Capital (private equity) and Andalusian Sports Advisors (M&A advisory). ACP provides first lien senior secured loans and unitranche loans to companies with EBITDA of $10 to $150 million and revenue of $20+ million across North America, serving both non-sponsored borrowers (independent, family, and founder-owned companies) and sponsor-backed borrowers (private equity portfolio companies). The firm targets a vertically specialized mix including sports, media & entertainment, financial services, tech-enabled business services, healthcare, industrials, and consumer products & services, with bespoke structures ranging from cash flow loans to asset-backed loans with no minimum tranche size.

ACP originates deals through relationship-based sourcing across management teams, intermediaries, business owners, private equity sponsors, and other direct lenders, supported by dedicated vertical expertise (notably sports and media). Revenue is generated primarily through interest income on senior secured loans originated by the firm and via its SEC-registered business development company, Andalusian Credit Company (ACC). As of June 2025, the broader Andalusian platform manages over $2.8 billion in commitments; ACC had $509.2 million in total investor commitments and $240.5 million in available liquidity as of December 2025, with $162.9 million undrawn. A $200 million revolving credit facility from Goldman Sachs (March 2026, maturing March 2031, priced at SOFR or base rate plus 2.15 percent) with an accordion feature materially expands near-term senior secured lending capacity.

The firm is led by Executive Chairman Roger W. Ferguson Jr. (17th Vice Chairman of the Federal Reserve, former CEO of TIAA), Vice Chairman Joseph Otting (31st U.S. Comptroller of the Currency), and CEO/CIO Aaron Kless (former Head of Non-Sponsor Direct Lending at Apollo Global Management and Managing Director at BlackRock). Distribution to qualified investors is conducted exclusively through direct institutional and high-net-worth relationships, with investor reporting delivered via the Intralinks portal; ACC shares are not exchange-listed and do not trade on a secondary market.

Name

Andalusian Credit Partners

Legal name

Andalusian Private Capital & Advisory

Website

https://andalusian.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Andalusian Credit Partners is a New York-based middle market direct lending platform that originates first lien senior secured and unitranche loans to non-sponsored and sponsor-backed companies with $10-150M EBITDA across North America, operating alongside an SEC-registered BDC with $509M in investor commitments.

Ownership category

akta.pro rank

Product category

Direct Lending / Private Credit

NAICS

Credit Intermediation and Related Activities (522)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Private Credit / Direct Lending (FSAAAHAG)

akta.pro secondary industries

Direct Lending — Senior Secured (First Lien) (FSAHAJAA), Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

Keywords

• Middle market lending
• Direct lending platform
• Senior secured loans
• Unitranche financing
• Private credit

Headquarters

HQ city

Short Hills

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, Technology or R&D, Infrastructure

Revenue model

1. Interest Income from Direct Lending: ACP generates revenue primarily through interest income from providing first lien senior secured loans, unitranche loans, and select junior capital investments to middle market companies. The firm acts as a solutions-oriented direct lender generating consistent returns through diversified senior secured leveraged lending.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Andalusian Credit Partners provides first lien senior secured loans, unitranche loans, and select junior capital investments to U.S. and Canadian middle market companies with EBITDA of $10–$150 million and revenue of $20+ million. The firm lends to both non-sponsored (independent, family, and founder-owned) companies and sponsor-backed (private equity-owned) companies for buyouts, acquisition financing, growth capital, recapitalizations, and refinancings. Through its affiliated SEC-registered BDC, Andalusian Credit Company, the platform raises capital from qualified investors and allocates committed funds to the lending strategy.

Product overview

Andalusian Credit Partners operates as an integrated financial services platform offering multiple lending and advisory products. The core offering is the ACP Direct Lending Platform, which provides first lien and unitranche loans to middle market companies through two primary channels: non-sponsored direct lending (for independent, family, and founder-owned businesses) and sponsor-backed direct lending (for private equity-owned companies). The subsidiary entity, Andalusian Credit Company (ACC), functions as a SEC-registered business development company for qualified investors. The platform targets companies with EBITDA of $10-150 million across industries including sports, media & entertainment, financial services, tech-enabled business services, healthcare, industrials, and consumer products. Transaction types include buyouts, acquisition financing, growth capital, recapitalizations, refinancings, and equity co-investments.

Differentiator

Problem solved

Functional benefit

Brands

• Andalusian Sports Advisors: Strategic advisory boutique focused on serving clients in high-stakes strategic matters in the global sports sector.
• Andalusian Private Capital

Products and services

• Andalusian Credit Partners Direct Lending Platform A middle market direct lending platform providing first lien senior secured loans, unitranche loans, and select junior capital investments to U.S. and Canadian companies with EBITDA of $10–$150 million and revenue of $20+ million across sports, media & entertainment, financial services, tech-enabled business services, healthcare, industrials, and consumer products & services.
• Andalusian Credit Company (ACC) — Business Development Company An SEC-registered business development company focused primarily on diversified senior secured leveraged lending to middle market companies; available for investment only by qualified investors; shares are not exchange-listed nor traded in a secondary market. As of December 2025, ACC held $509.2 million in total investor commitments with $240.5 million in available liquidity.
• Non-Sponsored Direct Lending Financing solutions for independent companies (family-owned, founder-owned, or management-owned) pursuing growth capital or capital structure optimization; includes senior secured, unitranche, second lien loans, and equity co-investments with no minimum tranche size.
• Sponsor-Backed Direct Lending Financing solutions for private equity sponsors for new buyouts and for existing portfolio companies, supporting buyout financing, portfolio company refinancings, add-on acquisitions, and leveraged buyout capital structures.
• Sports Sector Financing Bespoke financing solutions to companies operating in the professional sports ecosystem including IP licensing, ticketing platforms, mobile gaming, data and analytics, and other sports-related businesses.
• Media & Entertainment Financing Financing solutions for enterprises engaged in film, television, and music distribution, library finance, talent management, and production/post-production services.

Quantifiable outcome

• Record Q3 2025 deployment with $130 million committed across 7 transactions
• +2 more outcomes

Named customers7 records

Segments9 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Monroe Capital: Middle market direct lender with a dedicated Sports, Media & Entertainment finance vertical. Highly comparable to ACP given shared focus on M&E and middle market sponsor-backed and non-sponsored lending.
• Golub Capital: Large middle market direct lending platform with senior secured, one-stop, and junior capital offerings to U.S. borrowers. Comparable to ACP's middle market senior secured/unitranche product set and BDC distribution model.
• Churchill Asset Management: Middle market private credit firm offering senior, stretch, and junior debt to PE-backed companies. Directly comparable to ACP in borrower profile, deal size, and product menu.
• PennantPark Investment Advisers: BDC-managed middle market direct lender offering first lien, second lien, and mezzanine debt. Comparable to ACP via its BDC structure, middle market focus, and multi-tranche product set.
• PGIM Private Capital: Middle market private credit arm of Prudential offering senior secured and mezzanine debt. Comparable to ACP in middle market underwriting and origination model, with comparable scale.
• Capital One Direct Lending: Middle market sponsor finance and direct lending platform. Multiple former ACP team members came from Capital One's $5B high-yield and private credit platform, making it a closely comparable operating model.

Broad incumbents

• Ares Capital (Ares Management): Largest publicly traded BDC and one of the largest U.S. middle market direct lenders. Comparable in product offering (first lien, unitranche, junior debt) though much broader in scale and distribution.
• Apollo Credit (Apollo Global Management): Massive private credit platform with a dedicated Non-Sponsor Direct Lending business (previously run by ACP's CEO Aaron Kless). Closest incumbent analog to ACP's non-sponsored middle market origination strategy.
• BlackRock Private Capital: Large private credit platform with U.S. middle market lending capabilities. Multiple senior ACP team members (CEO Kless, Deputy CIO Kothary, VP Bulger) previously worked in BlackRock's U.S. Private Capital Group.
• MUFG Union Bank (Sponsor Finance / M&E): Middle market lender with a focused Sports, Media & Entertainment finance team (previously run by ACP MD Matt Rosenberg). Closely comparable on the M&E vertical strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/andalusiancredit

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Andalusian Credit Partners