Sagard Holdings ULC closed its oversubscribed fund at more than US$545 million.

The Sagard Credit Partners fund, which has a target of US$500 million and a hard cap of US$600 million, injects credit capital directly into public and private middle-market companies in North America. It is expected to be open to investors through the end of 2018.

The fund lists Sagard Holdings and the Healthcare of Ontario Pension Plan as its anchor investors.

Civil Service Superannuation Board of Manitoba and Investment Management Corp. of Ontario also participated, alongside an undisclosed Canadian foundation, other foundations, insurers and Canadian family offices.

The fund hired placement agent Park Hill Group to widen marketing efforts with U.S. and European investors.