Cresset Partners Private Credit Fund Surpasses $500 million

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Jun 24, 2024, 08:00 ET

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
[email protected]

SOURCE Cresset Partners