Charlesbank Capital Partners raises over $1.2b for Credit Fund III

Charlesbank Capital Partners is reportedly seeking to raise $1.25 billion for its third opportunistic credit fund, according to Bloomberg. Having already secured around $1.2 billion in commitments, the firm aims to finalize the fundraising in early the coming year. The Credit Opportunities Fund III focuses on direct lending debt, targeting senior secured loans for risky companies, including distressed and stressed assets. The fund has already deployed $900 million, with a particular focus on secondary acquisitions from other private credit firms and discounted loans from collateralized loan obligations. Charlesbank's credit fund targets middle-market companies with an enterprise value ranging from $150 million to $3 billion.