Cresset’s flagship private credit fund surpasses $500m

Private Equity Wire

Cresset Partners, the private investment arm of Cresset Capital, a $50bn wealth management and multi-family office platform, has seen its flagship private credit fund, Cresset Partners Private Credit Fund, surpass $500m in AUM, since its launch last April. 

The fund’s portfolio comprises senior secured, sponsor-backed loans to US middle market borrowers, as well as other private credit opportunities. 

In a statement, Bradley Schneider, Managing Director and Head of Private Credit at Cresset, said that CPCF had “delivered annualised distributions of 12.5% for the most recent two quarters”. 

CPCF has also partnered with financial services group ORIX USA’s subsidiary, NXT Capital, a Chicago-based middle market direct lending platform operating through its direct lending group and targeting US-based borrowers with EBITDA between $5m and $50m. The partnership aims to provide individuals and family offices on Cresset’s platform with access to direct private lower middle market investment opportunities. 

The full article is available here. This article was published at Private Equity Wire.