Garrison raising second lending fund

The New York-based firm is targeting $500m for Garrison Middle-Market Funding II  

Garrison Investment Group, the New York-based debt firm, is raising its second lending fund, targeting $500 million, according to a filing with the US Securities and Exchange Commission (SEC).

The previous Garrison Middle Market Funding fund held a final close at $230 million in 2013, according to PDI Research & Analytics.

Garrison’s credit platform invests in senior first lien loans, second lien loans, unitranche transactions, subordinated and mezzanine loans and equity co-investments. The firm manages a variety of private funds, separate accounts, CLOs and a business development company.

The firm was co-founded by Joseph Tansey and Steve Scott Stuart in 2007. Stuart left the firm last year, while Tansey bought out his shares in the company.

Garrison has about $3.5 billion in assets under management.