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Laxman Pai, Opalesque Asia:

Crestline Investors, an alternative investment management firm, has closed a $1bn collateralized loan obligation (CLO) focused on direct lending in the US middle market.

The Crestline Direct Lending CLO I is one of the largest new issue middle-market CLOs to have been arranged in 2024, according to a media release from the hedge fund manager headquartered in Fort Worth, Texas.

"We are grateful for the overwhelming interest from investors," said Keith Williams, Managing Partner - Credit Strategies at Crestline Investors. "The success of this CLO is a testament to the confidence our investors place in us, as well as the knowledge and expertise we have built over decades in middle market lending."

As per the release, GreensLedge Capital Markets served as arranger and lead placement agent, NatWest Markets Securities Inc. served as co-placement agent and KeyBanc Capital Markets served as co-structuring agent.

The CLO will be managed by Crestline and all of the equity interests will be retained by its Crestline Specialty Lending III fund.

"We are excited to continue building on this robust CLO platform, which we believe will help us deliver consistent value to investors through market cycles," said Jeremiah Loeffler, Managing Director and COO-Credit at Crestline Investors. "We look forward to using CLOs as an efficient capital source for future growth."

The Crestline CLO is rated by Standard & Poor's and collateralized by a dive......................

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