Chicago-based NXT Capital said it closed its US $783-million Senior Loan Fund II, L.P.  fund, which would be invested in senior debt deals intended for mid-market companies across different sectors who are primarily sponsored via private equity .

The Senior Loan Fund II secured equity pledges from nine different investors that includes leading pension plans, insurance companies and foundations. Wells Fargo Bank was among the biggest investors after committing US $500 million to the fund.

Robert Radway, NXT Capital chairman, said that the loan fund is a testament to the strong position of the company in leverage lending with middle market companies, as well as its historical success in asset management.

"We appreciate investors' vote of confidence in our team and the attractiveness of this investment opportunity," he said.

NXT Capital offers several structured loan packages under its real estate, equipment, corporate, venture finance groups. The financing solutions, with loan amounts of up to US $150 million, is geared toward the emerging companies and the middle-market businesses.