Crestline Closes on $1B CLO for Specialty Lending III Fund

Global alternatives manager Crestline Investors said it has closed on a $1B collateralized loan obligation, Crestline Direct Lending CLO I, wherein all equity interests will be retained by its Crestline Speciality Lending III fund.

In a news release announcing the close, Crestline managing director Jeremiah Loeffler said the $20B AUM firm would continue to look to leverage CLOs “as an efficient capital source in our future growth.” The CLO represents a portfolio of senior secured loans, originated and managed by Crestline. 

GreensLedge Capital Markets served as arranger and lead placement agent for the middle-market direct lending vehicle, while NatWest Markets Securities served as co-placement agent and KeyBanc Capital Markets as co-structuring agent.