Advising Crestline Investors on US$3.5 billion direct lending fund

In this complex, cross-border transaction we have advised Crestline Investors (Crestline), a global alternative investment manager, on its fourth flagship direct lending fund, Crestline Direct Lending Fund IV (CDLIV). The fund has secured $3.5 bn in investable capital across the fund, related vehicles and anticipated leverage.

The fund focuses on providing tailored financing solutions to sponsor and non-sponsor backed companies in the lower and core segments of the North American middle market.

Our Investment Funds team was led by partner Bicrom Das with support from associates Arezou Rezai and Lauren Bond, as well as Regulatory partner Andrew Howarth. Akin Gump acted as onshore counsel to Crestline.

Bicrom Das, lead partner on the deal, commented "We're delighted to have supported Crestline on this significant fundraise. The scale and global reach of CDLIV demonstrates the continued investor confidence in Crestline's direct lending platform, and we're proud to have been able to support our longstanding client Crestline in helping bring this complex fund structure to a successful close."

This transaction highlights our continued work with leading asset managers on complex fundraisings across key global markets, particularly in the private credit and direct lending space.