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Crestline Investors Announces Additional Close of Crestline Opportunity Fund III

June 13, 2016, 11:39 AM
Filed Under: Industry News

Crestline Investors, Inc., a credit focused institutional alternative asset manager, today announced an additional closing of its Crestline Opportunity Fund III strategy, bringing capital in the strategy to $720 million. The strategy invests primarily in small to mid-size corporate and asset-based credit-oriented opportunities, with a focus in North America.

The new fund is the ninth in Crestline's series of opportunistic funds, which started in 2005 and have attracted nearly $4 billion in client commitments to date.

The investment strategy seeks to take advantage of dislocations and inefficiencies in the primary and secondary credit markets in North America and Europe. The fund focuses on under-served or capital constrained asset classes, including SMEs, out-of-favor sectors, companies in transition and stressed or special situations. The fund provides sub-$50 million capital solutions in the form of direct lending, distressed credit, and structured finance, among others. Crestline Opportunity Fund III will follow the same direct investment strategy as its predecessor, the Crestline Opportunity Fund II strategy, which closed in March 2014 with $980 million in commitments.

"We seek attractive investment opportunities across credit and opportunistic strategies, and this latest close is a testament to our team's continued success in identifying quality transactions," said Douglas Bratton, Managing Partner & CIO of Crestline. "The firm is on track to close over $250 million in commitments to investments in these strategies during the first half of 2016."

"There are large numbers of opportunities in the North American and European markets with capital requirements that are not easily addressed by traditional capital providers. We help fill that gap with flexible capital solutions below $50 million," said Keith Williams, Partner at Crestline and Senior Portfolio Manager of Crestline Opportunity Fund III.

Crestline's Opportunistic and Credit Strategies group focuses on providing capital solutions to lower middle-market and middle-market companies, ranging from senior secured loans to junior capital in performing and distressed situations.

Crestline Investors, Inc., founded in 1997 and based in Fort Worth, TX, is a credit focused institutional alternative investment management firm with approximately $9.7 billion of assets under management. Crestline specializes in credit, opportunistic investments, and hedge fund and beta solutions. In addition to its Fort Worth, Texas headquarters, the company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo.

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