Crestline Investors, a global alternative investment manager, closed Crestline Direct Lending CLO I, a $1 billion collateralized loan obligation (CLO). GreensLedge Capital Markets served as arranger and lead placement agent, NatWest Markets Securities 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,” Keith Williams, managing partner – credit strategies at Crestline Investors, said. “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,” Jeremiah Loeffler, managing director and COO – Credit at Crestline Investors, said. “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.
