Crescent doubles down with $232M CLO equity fund close
What's the deal? Crescent Capital GroupDealroom has a profile for this one. Try Dealroom → has closed its second captive collateralized loan obligation (CLO) equity fund, Crescent CLO Equity Funding II, with $232 million in commitments. That doubles its predecessor, Crescent CLO Equity Funding I, which closed in 2018 with $103 million. The final close drew global insurance companies, pension funds, and other institutional investors.
What's the endgame? The fund will focus primarily on control positions in Crescent CLOs, with flexibility to invest opportunistically in the debt of Crescent CLOs and third-party CLOs. It marks continued growth for a CLO platform that dates back to 1993, making Crescent one of the longest-tenured managers in the market.
Why now? The firm raised the fund against what it called a "competitive fundraising environment." Managing director Nilesh Mandhare said the close reflects "the growing conviction we are seeing from investors across the institutional landscape."
The signal: CLOs are becoming a bigger piece of Crescent's broader credit platform, which now manages $53 billion in assets as of June 30, 2026. "The close underscores the depth of investor interest in the strategy and the strength of the platform we've built over decades," said John Fekete, head of tradeable credit. The Los Angeles-based firm, part of Sun Life's SLC ManagementDealroom has a profile for this one. Try Dealroom →, runs offices across New York, Boston, Chicago, London, and Frankfurt.
Read more: morningstar.com
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