Cresset Partners Launches Evergreen Private Credit Fund

Cresset Partners has launched the Cresset Partners Private Credit Fund, a fund that invests in a diversified portfolio of private senior secured loans, among other private credit opportunities.

With more than 200 underlying loans and $100mn in committed capital, according to Cresset’s website, the fund will focus largely on US middle-market borrowers with EBITDAs between $10 million and $100 million.

“The demand for private credit continues to grow, driven by the attractive merits of direct lending for both borrowers and investors who lend to private companies. This growing, $1 trillion asset class represents a significant opportunity for our investors,” said Executive Managing Director Kevin O’Donnell.

Senior secured loans provide a natural and effective hedge against inflation and rising interest rates due to the floating-rate coupon that are typically associated with private loans.

Founded in 2018, Cresset manages over $2.6bn across real estate, private equity, private credit and venture capital.