CHICAGO, June 24, 2024 /PRNewswire/ -- Cresset
Partners announced today that its flagship private credit
portfolio, Cresset Partners Private Credit Fund, LLC (CPCF),
has surpassed $500 million in assets
under management—a significant milestone. CPCF began investing in
April of 2023 and is focused on consistent income with strong
downside management. The Fund's diversified portfolio consists of
senior secured, sponsor-backed loans to U.S. middle market
borrowers, among other private credit opportunities.
"We are incredibly pleased with the launch and performance of
CPCF and are excited about the Fund's strategy to capitalize on the
growth of private credit as an asset class," said Kevin O'Donnell, Executive Managing Director
and Head of Cresset's Private Funds Group. "Cresset's strong brand
and reputation has enabled us to forge close partnerships with
seasoned managers specializing in private loan origination, which
has contributed significantly to the success of CPCF."
"Given the quality and vintage of CPCF's loan
portfolio, CPCF has delivered annualized distributions of 12.5% for
the most recent two quarters1," added Bradley Schneider, Managing Director and
Head of Private Credit for Cresset. "As Cresset's Fund
demonstrates, the demand for private credit continues to grow,
driven by the attractive merits of direct lending for both
borrowers and investors who lend to private companies."
CPCF has also announced a new strategic partnership with ORIX
USA's subsidiary, NXT
Capital, an established middle market direct lending platform
headquartered in Chicago. Since
NXT Capital's inception in 2010, its Direct Lending team has closed
more than $28.5 billion in financing
commitments in more than 500 platform transactions.
Cresset's Private Credit Team will host a virtual fund
update presentation on Thursday,
June 27. For more information and to register, please
visit:
https://cresset-private-event.swoogo.com/2024-06-27-portfolio-pulse-cresset-partners-private-credit-fund
Cresset Partners is a private investment firm
focused on providing its investors with direct access to
opportunities in real estate, private credit, private equity, and
venture capital. We focus on building outstanding, lasting
partnerships by investing long-term capital, resources, and
expertise to create sustainable value. We believe that long-term
investing creates better alignment and reduces risk and
inefficiencies, leading to better outcomes for all stakeholders.
Cresset Partners was founded in 2018 and has more than $3.5
billion in committed capital. Learn more
at https://cressetpartners.com.
Cresset refers to Cresset Capital Management, LLC and all of its
subsidiaries and affiliates. Cresset Asset Management, LLC provides
investment advisory, family office, and other services to
individuals, families, and institutional clients. Cresset Partners,
LLC provides investment advisory services strictly to investment
vehicles investing in private equity, real estate and other
investment opportunities. Cresset Asset Management, LLC and Cresset
Partners, LLC are SEC registered investment advisers.
Interests in the Cresset Partners Credit Fund are speculative
and are not intended as a complete investment program. Investment
in the Fund is designed only for sophisticated persons who can bear
the entire loss of their investments in the Fund. An
investment will involve significant risks due to the nature of the
fund's investments. Interests are subject to substantial
restrictions on transferability and resale and may not be
transferred. There is no public or other market for the interests
and no such market will develop. An investment in the Fund should
only be considered by persons for whom a speculative, illiquid and
long-term investment is an appropriate component of a larger
investment program.
- Distributions are not guaranteed in amount or frequency.
Distributions may be paid from other sources that are not "current
income."
Cresset Partners Private Credit Fund, LLC annualized distributions
for each of the quarters ending 12/31/24 and 3/31/24.
Annualized Distribution is calculated by annualizing the most
recent quarterly distribution and dividing by the net
asset value. Past performance is not indicative of future
results.
Media Contact:
Michael Walsh
mwalsh@cressetcapital.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cresset-partners-private-credit-fund-surpasses-500-million-302179583.html
SOURCE Cresset Partners