Tennenbaum Capital Partners raises $1.65bn

The Santa Monica-headquartered firm closed its latest mid-market lending vehicle.

Tennenbaum Capital Partners held a final close on $1.65 billion for its TCP Direct Lending Fund VIII.

Investors of the fund include San Mateo County Employees’ Retirement Association, who committed $35 million. Maine Public Employees’ Retirement System committed $100 million to the vehicle, and the Ohio Police and Fire Pension Fund committed $50 million.

The fund will target performing senior secured debt, with focuses on performing first lien and second lien loans along with unitranche facilities in North America.