Alcentra raises $510m

The London-headquartered asset management firm closed above target.

Alcentra announced the final close for its Clareant Structured Credit Opportunities Fund III at $513 million, surpassing the original $300 million target.

The fund was launched in 2017. Investors of the fund include sovereign wealth funds, public and corporate pensions funds from Asia, Europe, the Middle East and US.

The firm will use the capital to issue CLO debt to firms in North America and Europe.