– Crescent Capital Group LP and Pantheon closed Crescent Credit Solutions VII CV, a $3.2 billion private credit continuation vehicle
– Chris Wright, President, Crescent, said focus on delivering strong investor outcomes and leveraging secondaries innovation to enhance liquidity optionality
– Jason Breaux, Head of Private Credit, Crescent, added the continuation vehicle provides investor choice and positions the portfolio for long-term performance aligned with current market conditions
– Rakesh J., Global Head of Private Credit, Pantheon stated the transaction reflects a landmark in credit secondaries, highlighting GP liquidity innovation, strong partnership with Crescent, and a mutually beneficial outcome supported by scale and structuring expertise
– The vehicle acquires a diversified portfolio of performing sponsor-backed loans, securities, and equity interests from Crescent Mezzanine Partners VII (2016 vintage fund)
– The transaction was led by Pantheon and represents the largest credit continuation vehicle in the private credit secondaries market to date
– Allianz Global Investors co-led the transaction, alongside investments from funds managed by Hamilton Lane, Dawson Partners, Ares Management Credit Secondaries funds, and Antares Capital LP
– The structure was led at Crescent by the GP-LP Solutions Group within Crescent Private Credit, focused on innovative financing solutions for private markets participants
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