Crestline Investors (Crestline), a credit-focussed institutional alternative asset manager, has closed Crestline Specialty Lending Fund II (SLF II) with over USD800 million in capital commitments.
SLF II will follow the same strategy as its predecessor fund, Crestline Specialty Lending Fund I.
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 USD15 million to USD100 million.
The closing of SLF II will allow Crestline to continue lending to small and medium-sized businesses, primarily in North America and Western Europe. 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, recapitalisations and secondary purchases.
“We continue to see a tremendous 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 investors,” says Douglas Bratton, Managing Partner & CIO of Crestline.
“The closing of our second direct lending fund is strong evidence of the continued mismatch between the current credit needs of these smaller businesses and the providers of credit in the market,” says Keith Williams (pictured), a Managing Partner and Head of Credit Strategies at Crestline who will oversee the fund. “We look forward to working with these businesses to better understand their credit needs and the role that Crestline and our team can play in helping to meet those needs.”
