Crestline closes specialty lending fund at $800 mln


Crestline Investors, a credit-focused institutional alternative asset manager, has closed its specialty lending fund at over $800 million. The fund will allow Crestline to continue lending to small and medium-sized businesses that are mostly in North America and Western Europe.

PRESS RELEASE

FORT WORTH, Texas, Dec. 6, 2018 /PRNewswire/ — Crestline Investors, Inc. (“Crestline”), a credit-focused institutional alternative asset manager, today announced the October 15 closing of Crestline Specialty Lending Fund II (“SLF II”) by Crestline’s Direct Lending unit. SLF II will follow the same strategy as its predecessor fund, Crestline Specialty Lending Fund I. Crestline secured over $800 million in equity capital commitments for the SLF II strategy.

Crestline Direct Lending provides flexible senior debt capital solutions to lower-middle and middle-market businesses, with a focus on senior secured, unitranche and second-lien opportunities ranging from $15 million to $100 million.

The closing of SLF II will allow Crestline to continue lending to small and medium-sized businesses, primarily in North America and Western Europe. Crestline Direct Lending pursues a range of different transactions, depending on the capital needs of each business, which may include: acquisition financing, growth capital, leveraged buyouts, refinancing, recapitalizations and secondary purchases.

“We continue to see a tremendous opportunity to meet the capital needs of businesses in the lower to middle market. We are confident in the ability of our direct lending team to continue to identify attractive investment opportunities that will be accretive to our investors,” said Douglas Bratton, Managing Partner & CIO of Crestline.

“The closing of our second direct lending fund is strong evidence of the continued mismatch between the current credit needs of these smaller businesses and the providers of credit in the market,” said Keith Williams, a Managing Partner and Head of Credit Strategies at Crestline who will oversee the fund. “We look forward to working with these businesses to better understand their credit needs and the role that Crestline and our team can play in helping to meet those needs.”

About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm with approximately $10.8 billion of assets under management.1 Crestline specializes in credit and opportunistic investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund, and provides beta and hedging solutions for institutional clients. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com.

About Crestline Direct Lending
Crestline Direct Lending seeks to provide $15-100 million senior secured, unitranche and second lien financings to lower-middle and middle market companies in North America and Europe. Crestline Direct Lending lends to companies with highly recurring revenues and has significant experience in telecom, technology, media and healthcare services. Crestline Direct Lending typically lends to businesses with $4mm+ of EBITDA and can also lend to companies with minimal cash flow on a multiple of recurring revenues. For more information, please visit www.crestlineinvestors.com/directlending.