Siepe, a software and tech services provider for private credit and CLO managers, has secured $30 million in Series B funding led by WestCap, a firm managing $6 billion in assets. This investment will fuel the expansion of Siepe’s AI and Machine Learning capabilities, strengthen strategic partnerships, and improve the efficiency and data integrity of CLO and private credit management.
Since its founding in 2012, Siepe has developed solutions that enhance decision-making across the front, middle, and back offices of private credit asset managers and CLOs. Their technology streamlines investment lifecycles, providing real-time, accurate data and eliminating manual processes, ultimately optimizing investments and driving growth for clients.
In H1 2024, Siepe experienced significant growth, adding nineteen CLO and private credit deals with eight top-tier U.S. managers, totaling over $7.7 billion in new assets under administration. The company also onboarded two new front-office clients and launched a new private credit fund.
WestCap’s leadership, including Founder Laurence Tosi, Partner Kevin Marcus, and Principal Ryan Benevides, will guide Siepe’s growth, with Marcus and Benevides joining Siepe’s board. Additionally, Siepe has appointed Mark Schultis as President. Schultis, who joined as an Advisor in 2023, brings extensive experience in the credit and CLO sectors, previously serving as CEO at SE2 LLC and a senior executive at IHS Markit.
