Crestline Investors, a leading provider of fund liquidity solutions, announced the final close of its third commingled dedicated NAV financing fund, branded the Portfolio Finance Sentry Fund (PF Sentry), with $1.7 billion of investable capital across the Fund, related vehicles, and anticipated leverage.
PF Sentry offers flexible capital solutions to private equity and private asset funds seeking liquidity to acquire new assets, grow existing assets, and optimize fund and portfolio capital structures.
The fund also builds on the firm’s established, decade-long track record in NAV financing, which includes managing multiple separately managed accounts alongside other commingled vehicles. And the Sentry series will target larger, more diversified transactions with high-quality sponsors. With an established leverage facility in place, Sentry is prepared to offer lower-cost capital into lower-risk transactions, while still targeting net returns consistent with our earlier funds.
This fund attracted a diversified global investor base of new and existing limited partners, including public and corporate pension plans, sovereign wealth funds, asset managers, family offices, and other financial institutions.
The fundraising comes during a time of growing need for liquidity solutions across the private markets landscape. And challenging exit environments, lengthening holding periods, and macroeconomic uncertainty have driven significant demand for NAV finance solutions.
Crestline has completed $3.3+ billion in NAV-based transactions since its founding of the strategy, supporting sponsors across a wide range of private market strategies and fund structures. The strategy is led by a dedicated 14-person team and benefits from Crestline’s broader credit and opportunistic investment platform. So far, the Sentry Fund has closed nine transactions across diversified sectors, including real estate, buyout, and opportunistic credit, with activity spanning North America and Europe.
The Sentry Fund builds on Crestline’s strong track record of identifying market opportunities and tailoring strategies delivering advantageous solutions for our borrowers and attractive risk-adjusted returns for our investors.
KEY QUOTE:
“Crestline has deliberately maintained a disciplined fund size, enabling us to remain nimble and responsive to market dynamics. As a market leader in NAV finance, our flexible capital base, long-standing relationships, and deep structuring expertise position us well to continue supporting sponsors as they navigate this evolving market environment.”
Dave Philipp, Partner and Head of Fund Liquidity Solutions at Crestline
