Portfolio Advisors raises $838m

The Connecticut-based fund of funds manager has raised capital for its direct credit opportunities vehicle.

  • Fund name: PA Direct Credit Opportunities Fund III
  • Current size: $838.8 million
  • Stage of fundraising: Second close
  • Launch date: December 2018

Portfolio Advisors raised $838.8 million for PA Direct Credit Opportunities Fund III, according to Form Ds filed by the firm. Capital committed to the vehicle will be used to lend to companies throughout the US across diversified sectors.

In 2019, Fund III received a $75 million commitment from Missouri Local Government Employees’ Retirement System.