Private credit firm Crescent Capital Group said it raised a total of $6 billion to lend directly to smaller to midsized companies.
The money raised includes $3.2 billion in equity commitments on a final close of its third direct lending fund, plus $1 billion in targeted leverage. It’s also receiving $1.8 billion from separately managed accounts that will invest alongside the fund.
The equity Crescent raised for the vehicle titled Crescent Direct Lending Fund III exceeded the firm’s initial target by more than $1 billion. The previous version of the fund closed in 2018 and raised $1.6 billion in equity commitments. Investors in the fund include a mix of pension funds, insurance companies, financial institutions, family offices and endowments.
Read more: BNN Bloomberg
