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Cresset Partners Private Credit Fund Surpasses $500MM AUM

June 25, 2024, 07:14 AM
Filed Under: Industry News

Cresset Partners announced that its flagship private credit portfolio, Cresset Partners Private Credit Fund, LLC (CPCF), has surpassed $500 million in assets under management—a significant milestone. CPCF began investing in April of 2023 and is focused on consistent income with strong downside management. The Fund’s diversified portfolio consists of senior secured, sponsor-backed loans to U.S. middle market borrowers, among other private credit opportunities.
“We are incredibly pleased with the launch and performance of CPCF and are excited about the Fund’s strategy to capitalize on the growth of private credit as an asset class,” said Kevin O’Donnell, Executive Managing Director and Head of Cresset’s Private Funds Group. “Cresset’s strong brand and reputation has enabled us to forge close partnerships with seasoned managers specializing in private loan origination, which has contributed significantly to the success of CPCF.”

“Given the quality and vintage of CPCF’s loan portfolio, CPCF has delivered annualized distributions of 12.5% for the most recent two quarters1” added Bradley Schneider, Managing Director and Head of Private Credit for Cresset. “As Cresset’s Fund demonstrates, the demand for private credit continues to grow, driven by the attractive merits of direct lending for both borrowers and investors who lend to private companies.”
CPCF has also announced a new strategic partnership with ORIX USA’s subsidiary, NXT Capital, an established middle market direct lending platform headquartered in Chicago. Since NXT Capital’s inception in 2010, its Direct Lending team has closed more than $28.5 billion in financing commitments in more than 500 platform transactions.
Cresset Partners is a private investment firm focused on providing its investors with direct access to opportunities in real estate, private credit, private equity, and venture capital.

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