Crayhill Capital Management LP, a $3bn alternative asset management firm specialising in asset-based finance, has held the final close of Crayhill Principal Strategies Fund III (Fund III) with approximately $1.31bn in capital commitments.
The total, which exceeds the fund’s $1bn target includes $162m of committed co-investment capacity.
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 robust institutional appetite for the firm’s differentiated private credit strategies, according to a press statement.
Fund III will leverage Crayhill’s comprehensive ABF platform and risk management infrastructure to capitalise on the rapidly expanding opportunity in private asset-based investments. The fund will focus on providing capital solutions to specialty finance platforms and other asset-heavy companies across sectors including residential housing, energy, commercial real estate, media, and digital infrastructure.
Fund III will target highly-structured investments backed by segregated, cash flowing assets such as loans, leases, royalties, receivables, and power purchase agreements, with a priority on achieving downside protection and a resilient expected return profile. To date, Fund III has deployed over 75% of its available capital to a diverse portfolio of investments.
