Charlesbank Raises $1.5 Billion Fund for Private Debt Investing

Charlesbank Capital Partners has raised $1.5 billion for its third opportunistic credit fund, exceeding an initial target.

The fund will invest in new corporate loans and also purchase deals from other private credit shops across performing, stressed and distressed situations. It will focus on North American middle-market companies with enterprise values from $150 million to $3 billion, according to a statement seen by Bloomberg, which listed sectors including business and financial services, consumer, healthcare, industrials and technology.

Charlesbank had targeted $1.25 billion for Credit Opportunities Fund III, Bloomberg previously reported. Investors were predominantly based in the US and included a ...