Cerberus raises $4.4bn for direct lending strategy

Cerberus Capital Management launched its middle-market direct lending platform, Cerberus Business Finance, following the final close of its latest flagship fund, Cerberus Levered Loan Opportunities Fund IV. In tandem, the moves raised $4.4 billion for the New York firm.

Fund IV closed at $2.4 billion, while the direct lending strategy raised $4.4 billion in assets overall across the fund and separately managed accounts. With additional fund-level leverage, the fund raise brought Cerberus Business Finance’s total capital to over $20 billion.

“The close of Fund IV is the latest milestone . . .

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