Alternative credit investment firm Crescent Capital Group has held the final close of Crescent Mezzanine Partners VII with commitments of over USD4.6 billion, surpassing the fundraising target of USD3 billion.
Fund VII’s limited partners include a diverse mix of global investors from more than 20 countries including sovereign wealth funds, pension funds, insurance companies, financial institutions, foundations and endowments.
The closing represents the largest mezzanine offering in Crescent Mezzanine’s history. Thus far, Fund VII has deployed or committed approximately USD900 million across nine transactions.
“This fundraise is a significant milestone for our firm and speaks to the strength of our platform as well as our leadership position in this asset class,” says Jean-Marc Chapus (pictured), managing partner and co-founder of Crescent Capital Group. “We would like to thank our investors – both existing and new – for their support and confidence in our team and longstanding approach.”
Crescent Mezzanine targets investments in companies that are typically controlled by private equity sponsors and have enterprise values in excess of USD300 million.