Crayhill Raises $1.3 Billion for Asset-Based Private Debt Fund

Crayhill Capital Management raised about $1.3 billion in commitments for its latest asset-based private debt fund, which can invest in anything from residential housing to digital infrastructure, according to an emailed statement.

The private credit firm had targeted $1 billion for the Crayhill Principal Strategies Fund III from a mix of pension funds, endowments and other investors. So far, Crayhill has deployed about 75% of the fund’s capital in structured deals tied to loans, leases and receivables of various kinds.

Private credit funds are increasingly looking for other avenues to deploy rather than corporate direct lending, as the pipeline of ...