Crestline Investors – a global alternative investment manager – announced that it has closed Crestline Direct Lending CLO I, LLC, a $1 billion collateralized loan obligation (Crestline CLO). And this CLO represents one of the most significant new issue middle-market CLOs of 2024, which reaffirms Crestline’s position and expertise within middle-market direct lending.
GreensLedge Capital Markets served as arranger and lead placement agent, NatWest Markets Securities Inc. served as co-placement agent, and KeyBanc Capital Markets served as co-structuring agent. And the CLO will be managed by Crestline and all of the equity interests will be retained by its Crestline Specialty Lending III fund.
The Crestline CLO is rated by Standard & Poor’s, and it is 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.
KEY QUOTES:
“We are grateful for the overwhelming amount of interest from investors. 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.”
– Keith Williams, Managing Partner – Credit Strategies at Crestline Investors
“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. We look forward to using CLOs as an efficient capital source in our future growth.”
– Jeremiah Loeffler, Managing Director and COO-Credit at Crestline Investors
