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Laxman Pai, Opalesque Asia: Charlesbank Capital Partners, a Boston- and New York-based middle market private investment firm, has raised a $1.5 billion private credit fund, Credit Opportunities Fund III (COF III), exceeding its initial target of $1.25 billion.
COF III is the successor to Charlesbank's second credit fund, which has commitments of $1.1 billion, including a companion overage vehicle, said a media release from the private equity firm with more than $17 billion of capital raised since inception.
"As with previous vintages, COF III will follow Charlesbank's approach of investing in high-quality middle-market companies, principally in North America, with enterprise values ranging between $150 million and $3 billion," said the release.
The Fund invests in a wide array of transaction types offering flexible capital solutions to borrowers across Charlesbank's core sectors (business and financial services, consumer, healthcare, industrial, and technology & technology infrastructure), it added.
"The breadth of Charlesbank's private equity platform enables us to construct high-quality credit portfolios based on detailed, fundamental insights about a deep opportunity set of attractive middle market companies. We leverage our differentiated conviction across the entire spectrum of opportunistic credit, including primary, secondary, performing, special situations, and distressed opportunities," said Sandor Hau, Managing Director and Head of Credit at Charlesba...................... To view our full article Click here
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