Crescent closes largest credit fund to date

Alternative credit investment firm Crescent Capital Group has held the final close of its eighth private credit solutions fund, Crescent Credit Solutions VIII, at $8 billion in investable capital, including targeted leverage and separately managed accounts investing alongside the fund – the largest capital raise in the firm’s history. 

Alternative credit investment firm Crescent Capital Group has held the final close of its eighth private credit solutions fund, Crescent Credit Solutions VIII (CCS Fund VIII), at $8 billion in investable capital, including targeted leverage and separately managed accounts investing alongside the fund – the largest capital raise in the firm’s history. 

CCS Fund VIII exceeded its initial target and attracted a diverse mix of US and international institutional investors including insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans.

Crescent, which raised its first fund in 1992, focusses on senior secured unitranche securities and junior debt. Crescent Credit Solutions has invested over $21 billion in more than 270 transactions over the past 30 years through multiple economic and market cycles. CCS Fund VIII will continue its focus on directly originating unitranche, secured second lien, and junior debt of middle- and upper-middle market companies primarily in conjunction with private equity firms.