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Crescent raises $3.2bn for credit continuation fund

privateequitywire

5 months ago

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Crescent Capital Group has raised $3.2bn for a continuation vehicle, marking the largest fundraise to date for a strategy focused on private credit secondaries, according to a report by Bloomberg. The fund will allow the manager to hold selected credit assets for longer amid a slower dealmaking environment. The vehicle acquired a loan portfolio from Crescent Mezzanine Partners VII, a 2016 vintage fund.
London-based Pantheon Ventures led the transaction, with Allianz Global Investors acting as co...

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