Raven Capital Management, an alternative investment management firm with offices in New York and Santa Monica, Calif., has completed fundraising for its Raven Asset-Based Credit Fund II LP at $834 million, surpassing its target of $500 million.

Raven’s private credit strategy focuses on non-sponsor, senior secured loans with an asset-based focus across North America. This fundraise brings Raven’s assets under management to over $2 billion, and the Credit Fund II franchise has already deployed over 75 percent of the capital raised to date. In addition, Raven has launched Raven Evergreen Credit Fund II, which will continue to fundraise and invest in perpetuity alongside Raven Asset-Based Credit Fund II LP.

“We will continue to strive to deliver strong risk-adjusted returns while always focusing on capital preservation, which is underpinned by our unique and relationship-driven sourcing and rigorous underwriting process, in order to bring value to our investors,” states Dimitri Cohen, principal, portfolio manager and head of credit at Raven. “With the uncertainty in the capital markets growing and the rising rate environment firmly upon us, the need for our solution-focused capital is greater than ever.”