The latest in funds and investment news from across North America.

CVC Credit Partners
CVC Credit Partners has raised $657 million for its second US-focused direct lending fund, CVC Credit Partners US Direct Lending Fund II.

Fund II will follow the same strategy as its predecessor fund, investing in established US middle market businesses.

The new fund surpassed its $500 million target and is also larger than its predecessor fund. Private wealth investors along with institutional capital put money into the sector. Investors are in North America, Europe, Asia, and Australia.

The lending strategy involves holding privately negotiated, senior-secured, floating rate loans to established US middle-market companies with earnings before interest, tax, depreciation and amortization of $10 million to $40 million. To date, CVC Credit Partners has deployed more than $1 billion of commitments for its US direct lending strategy.