The credit firm, which provides financing to middle-market companies, said the funding would support the next phase of LIV Golf, under which players would become equity owners of both the league and its teams.
The financing remains subject to bankruptcy court approval and customary conditions.
“This investment is an important step forward for LIV Golf,” said LIV Golf CEO Scott O’Neil in a statement.
“We’re delivering on our major milestones, and while there is still work ahead, today marks meaningful progress toward a player-owned, team-focused, truly global league that complements the wider game and creates new opportunities for players, fans, partners, and the next generation of golfers.”
Since LIV’s controversial launch in 2021, more than $5bn (£3.7bn) has been spent by Saudi Arabia’s Public Investment Fund (PIF), with major winners including Jon Rahm and Bryson DeChambeau lured by lucrative contracts and vast prize money.
However, the future of the concept – and its star players – has been shrouded in uncertainty, with the 2026 season having ended early.
Documents in the petition outline money owed to LIV Golf’s creditors with the 30 largest unsecured claims.
Two-time major winner Rahm tops that list with an unsecured claim of $7.5m (£5.5m).
DeChambeau ($5.7m – £4.2m), Dustin Johnson ($5.5m – £4.1m), Cameron Smith ($4.8m – £3.5m) and Tyrrell Hatton ($3.4m – £2.5m) are also among the top 30 creditors, as well as Brooks Koepka, who left to rejoin the PGA Tour in January but has an unsecured claim of $1.7m (£1.25m).
The total amount owed to the 14 current and former LIV players in the top 30 creditors is just over $45m (£33m).
A source familiar with the figures told BBC Sport the creditors list outlines the “amount owed and not paid for Q3” of 2026, not the full amounts.
Chapter 11 protection postpones a US company’s obligations to its creditors, giving it time to reorganise its debts or sell parts of the business.
PIF is providing a bankruptcy loan of $49.6m (£36.6m) – called ‘debtor in possession’ (DIP) financing – to help fund the process.