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Alternative Market Briefing

Crestline raises $1bn for fund finance

Wednesday, January 12, 2022

Laxman Pai, Opalesque Asia:

Credit-focused institutional alternative asset manager Crestline Investors announced that it has closed its second fund complex focused on Fund Finance, including NAV loans and preferred equity offerings, with commitments of $1 billion and additional overflow interest.

Investors include large public pensions, endowments, insurance companies, and sovereign wealth funds, said a press release from the institutional alternative investment management firm with approximately $13.8 billion in assets under management.

"This fund closing is the latest example of our commitment to being innovators in the credit markets by identifying and pursuing high-quality investment opportunities for our clients while also offering flexible and accretive capital to a wide range of sponsors," said David Philipp, Partner of Crestline and Co-Head of the Fund Liquidity Solutions team.

"The closing of Portfolio Financing Fund II represents a natural extension of our Fund Liquidity Solutions offering and enables us to fund our significant pipeline of investment opportunities across private equity, real estate, and infrastructure funds," David added.

As a market leader in the NAV lending space, Crestline's Fund Liquidity Solutions Group provides custom financing and capital solutions to private equity funds and other private asset vehicles seeking additional capital to support, grow and protect underlying portfolio companies and to support strategic init......................

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