THL Credit Advisors LLC's third direct lending fund, THL Credit Direct Lending Fund III, closed above its original target with $511 million in total commitments.

THL Credit focuses its direct lending efforts on the business and financial services; consumer and healthcare; and media, information services and technology sectors.

THL Credit's previous direct lending fund, THL Credit Greenway Fund II, raised $187 million in 2013 and invested in 25 companies.