Strategic Credit Investments: Join Silver Spike's $200mn Fund Backed by Exceptional Assets and Cashflow

Hosted by Silver Spike Capital
December 8, 2023
1:30 PM - 2:00 PM ET
Keynote

Silver Spike Capital Solutions, LP has a $200mn target raise, structured as a credit-focused, private equity-style drawdown fund. Silver Spike expects to hold its first close in Q1-2024. The strategy is targeting annualized net unlevered returns of mid-to-high 20’s% (or 3x to 3.5x net MOIC over five years)1 by investing primarily in convertible debt to the cannabis industry’s most established operators and brands. The Fund will also invest selectively in idiosyncratic credit special situations.

Silver Spike anticipates several first-mover advantages as a leading industry incumbent and the first and only pool of capital focused on this opportunity set.

  • Cannabis represents a powerful secular macro growth story and is expected to be one of the largest US consumer categories by the end of the decade.
  • The high-growth industry has no access to traditional sources of capital.
  • The absence of institutional investors provides unusual competitive moats, information asymmetry, and uncommon pricing power for incumbent capital providers.
  • Senior-secured credit and equity-linked debt to the sector's leading players can generate risk-adjusted returns materially exceeding similar conventional strategies—with downside protection and little correlation to traditional markets.
  • Cannabis credit represents an idiosyncratic and uncrowded investment strategy that is differentiated and comparatively resilient to exogenous factors

Strategic Credit Investments: Join Silver Spike's $200mn Fund Backed by Exceptional Assets and Cashflow

Silver Spike Capital Solutions, LP 

Speaker

  • Bill Healy

    Title
    Partner
    @
    Company
    Silver Spike Capital
    Role
    Speaker

    Bill is a thirty-five-year financial markets industry professional and co-founder of Silver Spike Capital, an SEC-registered private credit manager focused on the cannabis industry. 

    Before Silver Spike, he was President of Pantera Capital Management in Menlo Park, California—one of the longest-established Blockchain investment managers focused on digital currencies, applications, and related companies. 

    From 1998 to 2016, Bill led several institutional sales initiatives in the securities and asset & wealth management divisions at Deutsche Bank. He started his career as a corporate banker at The Chase Manhattan Bank—with postings in Brazil, London, and New York—where he advised multinational corporations on cross-border funding and domestic treasury matters for their Latin American operations.

    From 1993 to 1998, he started and managed the ING Barings emerging markets institutional debt sales team. He covered clients and often traveled to Latin America, Europe, and Asia to structure, price, and pre-market many of the firm’s capital markets transactions.

    Bill earned a B.A. in International Business Finance from George Washington University. He is a Chartered Alternative Investment Analyst Association (CAIA) Member and resides in New York City.


    About

About

Silver Spike Capital

Founded in 2019, Silver Spike Capital is an SEC-registered adviser and private credit alternative asset manager dedicated to the cannabis industry and has led $240m in senior-secured loans to many of the industry’s most established operators.  

Silver Spike's platform includes commingled funds, SMAs, an active senior-secured credit co-investment program, and the industry's only cannabis-dedicated Nasdaq-listed BDC.

The firm's partners each have twenty to thirty-five years of investment experience at pedigree asset managers and bank trading desks through various market cycles in credit, direct lending, distressed, special situations, and emerging markets debt. 

With little access to traditional sources of capital, the nascent, high-growth cannabis sector provides senior-secured credit and equity-linked debt opportunities with the prospect of risk-adjusted returns materially exceeding similar strategies—with little correlation to traditional markets.

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