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Crestline Investors Closes $1 Billion Middle Market CLO

FORT WORTH, Texas--(BUSINESS WIRE)--Crestline Investors, Inc., a global alternative investment manager, today announced that it has closed Crestline Direct Lending CLO I, LLC, a $1 billion collateralized loan obligation (“Crestline CLO”). This CLO represents one of the largest new issue middle-market CLOs of 2024, which reaffirms Crestline’s position and expertise within middle-market direct lending.

GreensLedge Capital Markets served as arranger and lead placement agent, NatWest Markets Securities Inc. served as co-placement agent and KeyBanc Capital Markets served as co-structuring agent. The CLO will be managed by Crestline and all of the equity interests will be retained by its Crestline Specialty Lending III fund.

“We are grateful for the overwhelming amount of interest from investors,” said Keith Williams, Managing Partner – Credit Strategies at Crestline Investors. “The success of this CLO is a testament to the confidence our investors place in us, as well as the knowledge and expertise we have built over decades in middle market lending.”

“We are excited to continue building on this robust CLO platform, which we believe will help us deliver consistent value to investors through market cycles,” said Jeremiah Loeffler, Managing Director and COO-Credit at Crestline Investors. “We look forward to using CLOs as an efficient capital source in our future growth.”

The Crestline CLO is rated by Standard & Poor’s and collateralized by a diversified portfolio of senior secured loans, originated and managed by Crestline, with a four-month reinvestment period and a twelve-month non-call period.

About Crestline Investors
Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $20 billion in assets under management (as of June 30, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.

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Ben Howard
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Contacts

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Ben Howard
Bhoward@prosek.com

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