Crestline Investors, Inc., a Fort Worth, TX–based credit focused institutional alternative asset manager, closed its third Opportunity Fund, at over $1.34 billion.
Investors in Opportunity Fund III include public and private pension plans, sovereign wealth funds, insurance companies, and other institutional investors.
The fund’s investment strategy seeks to take advantage of dislocations and inefficiencies in the primary and secondary credit markets in North America and Europe focusing on under-served or capital constrained asset classes, including SMEs, out-of-favor sectors, companies in transition and stressed or special situations. It provides sub-$50 million capital solutions in the form of direct lending, distressed credit, and structured finance, among others.
Led by Douglas Bratton, Managing Partner & CIO, and Keith Williams, Partner at Crestline and Senior Portfolio Manager, the new vehicle is the ninth in Crestline’s series of opportunistic funds, which started in 2005 and have attracted more than $5.6 billion in client commitments to date.
Each of the funds is managed by Crestline’s Credit Strategies team, which has closed over 75 transactions.