Keystone National Group has raised at least $33 million towards a stated target of $150 million for its sixth private market opportunities fund, according to documents filed with the US Securities and Exchange Commission on Tuesday.
The filing lists Sunbelt Securities, Mount Yale Securities, Cambridge Investment Research and Orchard Securities as associated brokers or dealers for the vehicle.
The firm began fundraising on Fund VI last year. Keystone Private Market Opportunities V closed on just over $100 million in April 2013. The vehicle was 50 percent invested at the time of the close, according to a statement from the firm.
Fund V invests in a variety of private credit related strategies, including mid-market senior secured loans, secondary loan pool purchases, consumer and industrial loans and distressed debt, among others. That fund was generating a 10 percent IRR since inception as of 31 December 2012, according to an earnings report released by Keystone last year.
San Ramon, California-based Keystone specialises in private market fixed income investments, according to its website. Roger Widman is chairman of the firm. John Earl and Brandon Nielson serve as managing partners.