Crescent wraps up eighth private credit fund at $8bn

• CCS Fund VIII will focus on middle- and upper-middle market companies
• Crescent raised its first fund in 1992
• Crescent managed approximately $40 billion of privately originated debt investments and marketable securities, as of December 31, 2022

Crescent Capital Group LP has closed its eighth private credit fund at $8 billion.

Crescent Credit Solutions VIII’s backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans.

CCS Fund VIII will focus on middle- and upper-middle market companies.

“This successful fundraise speaks to the strength of our credit solutions business, which has been a leader in the private debt market for more than 30 years. We appreciate the support and confidence of our existing and new investors,” said Chris Wright, managing director and head of private markets at Crescent, in a statement. “We are proud of the reputation that Crescent Credit Solutions has built over the years as a reliable provider of privately-negotiated debt capital, and believe this reputation is a result of our extensive investment experience, broad transaction sourcing capabilities, and consistent and disciplined investment approach.”

Crescent raised its first fund in 1992. Since then, Crescent Credit Solutions has invested over $21 billion in more than 270 transactions over the past 30 years through multiple economic and market cycles.

Based in Los Angeles, Crescent managed approximately $40 billion of privately originated debt investments and marketable securities, as of December 31, 2022.