Crescent Capital Group LP, an alternative credit investment firm, has closed its seventh mezzanine fund at over $4.6 billion, beating its $3 billion target. Crescent Mezzanine Partners VII’s limited partners including sovereign wealth funds, pension funds, insurance companies, financial institutions, foundations and endowments. The firm targets companies that have private equity backing and valuations of more than $300 million. In August 2013, Crescent raised more than $3.4 billion for its sixth mezzanine fund, sweeping past its $2.5 billion target.