Charlesbank Capital Closes $1.5B Credit Fund

Charlesbank Capital Partners, a middle-market private investment firm, has completed fundraising for Charlesbank Credit Opportunities Fund III, which closed at $1.5 billion and surpassed its target of $1.25 billion.

The fund invests in public and private performing credit, special situations and distressed opportunities, with a focus on established middle-market companies with enterprise values ranging from $150 million to $3 billion. Roughly 40% of the committed capital has already been deployed, officials said.

The fund invests in an array of transaction types offering capital services to borrowers across business and financial services, consumer, healthcare, industrials, technology and technology infrastructure.

“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,” said Sandor Hau, managing director and head of Credit at Charlesbank.

The Charlesbank Credit Opportunities strategy has invested over $4 billion in capital.

The $17 billion Boston-based firm, which also participates in management-led buyouts and technology investment, received $1.1 billion in commitments to its second credit fund in 2020, including leverage.