Crescent Capital Group, an alternative credit investment firms, launched Crescent GP Financing Solutions, a private credit strategy focused on providing flexible, non-dilutive growth capital directly to private equity sponsors across the middle market.
GP-LP Solutions will be led by Gregory Hardiman (managing director, GP-LP Solutions), in partnership with Tom Glover (managing director, GP-LP Solutions).
Prior to joining Crescent, Hardiman was a partner at 17Capital, where he co-led U.S. investments and helped develop and grow GP financing into the firm’s largest area of activity in the U.S. by volume and transaction count. Glover joined Crescent from BC Partners Credit, where he built and led the firm’s GP and NAV-based financing strategy, having previously led Investec’s North American Fund Finance business. Collectively, the GP-LP Solutions team members have executed over 30 bespoke financings for general partners, funds and limited partners, representing approximately $4 billion in transaction volume.
“Crescent has been one of the leaders in sponsor-focused private credit for well over three decades,” Chris Wright, president of Crescent, said. “We are excited to expand the range of innovative credit solutions we offer to both investors and sponsors, further strengthening our position as an experienced and trusted partner of choice in private credit.”
“We are delighted that Greg and the team are bringing their experience and capabilities to Crescent to address this growing segment of specialized private credit,” Jason Breaux, head of private credit at Crescent, said.
“With GP-LP Solutions, we aim to leverage over 1,500 private equity relationships across Crescent and apply our disciplined credit underwriting approach, combined with specialized structuring experience, to deliver attractive risk-adjusted returns to a diverse investor base,” Hardiman said.
GP-LP Solutions is being supported strategically by Crescent’s majority owner Sun Life and will address the market in collaboration with the investment grade private credit business of SLC Management, the institutional asset management business of Sun Life.
