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Alternative Market Briefing

Alternative investment manager Crestline Investors closes Specialty Lending Fund II strategy with $800m

Friday, December 07, 2018

Laxman Pai, Opalesque Asia:

The credit-focused institutional alternative asset manager Crestline Investors announced closing of Crestline Specialty Lending Fund II (SLF II) by Crestline's Direct Lending unit with over $800m in equity capital commitments.

The SLF II strategy ill follow the same strategy as its predecessor fund, Crestline Specialty Lending Fund I, said a release from the Texas-based institutional alternative investment management firm with approximately $10.8bn of assets under management.

The release said that 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 $15m to $100m.

The closing of SLF II will allow Crestline to continue lending to small and medium-sized businesses, primarily in North America and Western Europe, it said.

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.

Douglas Bratton, Managing Partner & CIO of Crestline said: "We continue to see a 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 investo......................

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