THL Credit raises $511m

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THL Credit has raised $511 million to date for its THL Credit Direct Lending Fund III. The Boston-headquartered firm had set a $350 million target and began fundraising in 2016.

Its previous fund raised $187 million in 2013.

Investors that committed to THL Credit Direct Lending Fund III include the University of Michigan.

The fund will target senior debt opportunities in a diverse number of sectors in North America.