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Crestline Investors, Inc., a global alternative investment manager based in Fort Worth, announced the final close of its Crestline Direct Lending Fund IV (CDLIV), with $3.5 billion in investable capital across the fund, related vehicles, and anticipated leverage.
The fund is part of Crestline’s direct lending strategy, which targets tailored financing solutions for both sponsor-backed and non-sponsored companies across North America. The firm focuses on the middle market, particularly its lower and core segments.
“This marks another significant milestone in our commitment to providing flexible, scalable capital solutions for the companies with which we invest,” said Keith Williams, managing partner and chief investment officer at Crestline. “Our investors’ confidence reinforces our position as a trusted steward of capital, and we’re deeply grateful for their support.”
CDLIV attracted a globally diversified base of new and returning investors, including public and corporate pension plans, sovereign wealth funds, asset managers, registered investment advisors, and other financial institutions from North America, Europe, and Asia, according to a press release.
Chris Semple, partner and co-head of U.S. Corporate Credit, said the continued support from investors underscores the strength of Crestline’s partnership approach and its ability to preserve capital through credit cycles. “It also reflects the growing demand for alpha-driven direct lending strategies that aren’t predominantly focused on the upper-end of the market,” he added.
Crestline launched its direct lending strategy in 2014 and has since closed more than 150 transactions totaling over $5.9 billion in invested capital, the company said. CDLIV alone has already completed 46 transactions across a diverse range of industries, sponsors, and borrower profiles.
Founded in 1997, Crestline manages over $16 billion in alternative credit assets through its direct lending, opportunistic, and portfolio finance platforms. The firm maintains affiliate offices in London, New York, Toronto, and Tokyo.