Crestline secured over $800 million in equity capital commitments for the SLF II strategy, which will follow the same strategy as its predecessor fund, Crestline Specialty Lending Fund I.
Overseen by Keith Williams, a Managing Partner and Head of Credit Strategies at Crestline, Crestline Direct Lending provides flexible senior debt capital solutions to lower-middle and middle-market businesses, with a focus on senior secured, unitranche and second-lien opportunities ranging from $15 million to $100 million.
The closing of SLF II will allow Crestline to continue lending to small and medium-sized businesses, primarily in North America and Western Europe.
Crestline Direct Lending pursues a range of different transactions, depending on the capital needs of each business, which may include: acquisition financing, growth capital, leveraged buyouts, refinancing, recapitalizations and secondary purchases.
The unit typically lends to businesses with $4mm+ of EBITDA and can also lend to companies with minimal cash flow on a multiple of recurring revenues.