Crescent Capital Group has held the final close of the Crescent European Specialty Lending Fund with more than EUR500 million of investor commitments, bringing the total deployable capital available to the strategy to approximately EUR650 million.
Since October 2014, the fund has committed approximately one-third of its capital across several investments.
“I am pleased with the growth of our European strategy both in terms of the significant capital we now have available as a result of this fundraise as well as the success of the transactions we have already closed in this fund,” says Christine Vanden Beukel (pictured), Managing Director and head of Crescent’s European Specialty Lending strategy. “We have experienced significant demand from European middle market companies that seek a proven investment manager to meet their growing need for capital.”
“The success of this fundraise further demonstrates the strength of the Crescent platform to generate directly originated investments. We received significant support from a number of existing investors who chose to invest in this fund, as well as from investors new to Crescent who accounted for nearly 40% of the European fund,” says Jean-Marc Chapus, Managing Partner and Co-Founder of Crescent Capital Group. “As long-time providers of privately originated debt, we continue to see increased interest among borrowers and their sponsors for experienced managers in the European direct lending space who can provide assurance of closing and understand the complexities in underwriting across many European jurisdictions.”
Crescent has been providing private debt capital to European companies for more than 20 years. The new fund targets investments in middle market companies across Western Europe.
