Stellus Capital Management, a provider of direct lending services, has closed Stellus Credit Fund III.

Stellus raised $225 million of anchor capital for Stellus Private Credit BDC, a private business development company. SCF III and SPBDC are focused on private credit opportunities in industries across the United States.

“The overwhelming interest in SCF III and Stellus Private Credit BDC is a testament to our long-term track record of success and investors’ confidence in our understanding of this increasingly important marketplace,” said Robert T. Ladd, managing partner, Stellus Capital Management. “With significant dry powder, we’re excited about the opportunity to utilize our robust origination capabilities, taking advantage of a strong private credit pipeline to provide investors with attractive risk-adjusted returns relative to other asset classes.”