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Crescent Capital Group loses managing director amid European fundraising

Steven Novick has left Crescent Capital Group to start a new retail business based in London, according to his LinkedIn page.

Until April Novick was a managing director at Crescent and head of Europe, Middle East, Africa and Asia Pacific business development and investor relations for the credit investment firm, based in Los Angeles.
 
He also co-founded Crescent's first non US-focused credit fund, known as Crescent European Specialty Lending. The fund has a target of EUR500 million.
 
Novick joined the firm in 2011 and over the last two years raised almost USD1 billion in capital from investors across Europe, Middle East and Asia Pacific. 

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