Crescent raises A$800m

The Sydney-based firm’s sixth fund hit its A$800m target within half a year.

Crescent Capital Partners has raised A$800 million for its largest fund, Crescent Capital Partners VI. Launched in April with its first close on A$680 million in May, the vehicle reached its fundraising goal in less than six months.

Amongst the investors are offshore pension funds, endowments, and fund of funds from North America as well as European and Asian LPs including Japan, with 40 percent of the capital raised from Australian LPs.

Fund VI will continue to invest in small and mid-cap companies based in Australia and New Zealand as its predecessor, Fund V, which closed at A$675 million in 2015.

The firm has invested some of the capital in Healthcare Australia, a Sydney-based healthcare staffing company.