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Laxman Pai, Opalesque Asia:

New York-based asset-based finance (ABF) specialist Crayhill Capital Management has raised $1.31 billion for its third investment vehicle, including $162 million in co-investment commitments.

The oversubscribed flagship Fund III attracted a diversified base of institutional investors, including large public and corporate pension plans, insurance companies, endowments and foundations, and multi-family offices, demonstrating a robust institutional appetite for the firm's differentiated private credit strategies, said a media release from the alternative asset management firm focused on scalable, opportunistic asset-based investments.

Investors in Crayhill Principal Strategies Fund III include the Ventura County Employees' Retirement Association, which committed $50 million, and the Illinois Municipal Retirement Fund, which placed $75 million.

"We are grateful for the overwhelming support we received from existing investors and strong demand from new limited partners," said Josh Eaton, Co-Founder of Crayhill. "We look forward to working with all our valued investors as we utilize our specialized capabilities to help them achieve their investment goals."

As per the release, the partner-owned firm offers an alternative to traditional private corporate lending funds, given that its ABF strategy focuses on assets with intrinsic value that can be monetized independently of a borrower's overall performance. This provides an ad......................

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