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Laxman Pai, Opalesque Asia: Crestline Investors, credit-focused institutional alternative asset manager, has closed its latest fund at $600 million. The fund will focus on Crestline's portfolio financing strategy, which is managed by Crestline's Fund Liquidity Solutions team.
The fund's investors include public and private pension plans, endowments, wealth management platforms, and other institutional investors.
"The Portfolio Finance Fund, and related managed accounts, secured $600m of capital commitments, exceeding the fundraising objective," said a press release from the Texas-based institutional alternative investment management firm.
The new fund is the tenth in Crestline's series of opportunistic funds, which started in 2005 and have attracted more than $6bn in client commitments to date across a variety of specialized strategies.
The Portfolio Financing Fund offers investors dedicated exposure to the same strategy that has been employed by Crestline since October 2016 in the form of managed accounts and co-investments.
To date, the Crestline Fund Liquidity Solutions team, which is co-led by David Philipp and Amit Mahajan, has completed in excess of $580 million of transactions satisfying a range of borrower needs, including: acquisition financing, growth capital, debt refinancing, covenant breach cures, and accelerating distributions to investors.
"Our Fund Liquidity Solutions team was purpose-built to execute this strategy, and inc...................... To view our full article Click here
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