Charlesbank Targets $1.25 Billion Fund to Buy Private Credit
- Credit Opportunities Fund III already closed on $1.2 billion
- Fund will lend directly to companies and buy from others funds
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Charlesbank Capital Partners is aiming to raise $1.25 billion for its third opportunistic credit fund, looking to invest in new corporate loans as well as to purchase them from other private credit shops to take advantage of market dislocations.
The fundraising, which so far has closed on a commitment of $1.2 billion, is looking to wrap up early next year, according to people who asked not to be identified because the information is private. The fund has already deployed $900 million, according to one of the people.