Crescent Collects $3.2 Billion in Largest Credit Secondary Fund

Crescent Capital Group collected $3.2 billion for a fund that allows it to hold on to some of its private credit investments for longer, marking the largest raise for a vehicle dedicated to credit secondaries so far.

London-based Pantheon Ventures led the investment in the continuation vehicle, which bought the loan portfolio from Crescent Mezzanine Partners VII, a 2016-vintage fund, according to a statement.