Crescent Capital Closes Eighth Private Credit Fund at $8B – It’s Largest Ever Raise

Alternative credit manager Crescent Capital Group closed its eighth private credit solutions fund – Crescent Credit Solutions VIII – at $8 billion, including targeted leverage and separately managed accounts investing alongside the fund, making it the largest raise in the firm’s 30 year-plus history.

CCS Fund VIII will continue its focus on directly originating uni-tranche, secured second lien and junior debt of middle- and upper-middle market companies primarily in conjunction with private equity firms.

“We are proud of the reputation that Crescent Credit Solutions has built over the years as a reliable provider of privately negotiated debt capital,” said Chris Wright, Managing Director and Head of Private Markets at Crescent.

Based in Los Angeles, Crescent, which managed approximately $40 billion of privately originated debt investments and marketable securities as of the end of last year, raised its first fund in 1992. Crescent Credit Solutions has invested over $21 billion in more than 270 transactions over the past 30 years.