Investment Firm Crestline Raises $3.6 Billion for Private Credit

Alternative asset manager Crestline Investors Inc. has raised $3.6 billion from investors across multiple private-credit strategies, according to a statement seen by Bloomberg, amid strong demand for the asset class which can offer higher yields.

The Texas-headquartered firm attracted the most money for its credit-opportunity fund, which provides financing including senior loans and structured equity to companies hit by market dislocations or inefficiencies. The firm raised $1.6 billion on the fourth iteration of the fund.

Crestline’s direct-lending fund, which invests in senior, second-lien and unitranche loans to U.S. lower and middle-market companies predominantly backed by private-equity firms, raised a total ...