Firm to target special opportunities in Europe

Crestline Investors has announced the final closing of its first European Opportunity Fund.

The credit-focused institutional alternative asset manager has called the fund the Crestline Opportunity Fund III Europe. Crestline secured more than $360 million in equity capital commitments, exceeding its fundraising objective.

This new fund will serve as an extension of the firm’s global series of opportunistic funds. It will also exclusively target European opportunities.

This new fund is the tenth in Crestline’s series of opportunistic funds. The company began launching these funds in 2005 and has attracted more than $7.7 billion in client commitments to date.

About Crestline Investors New Fund

Crestline’s European Credit Strategies team will manage the new fund. This team has closed 19 transactions. Investors in the fund include leading public pension plans, insurance companies, and other institutional investors.

“With these additional capital commitments, we are well-positioned to further execute on the significant market opportunities across the opportunistic spectrum in Europe,” said Douglas Bratton, Managing Partner & CIO of Crestline.

The fund will provide capital solutions to under-served small and medium-sized businesses in Europe. The European Fund will further prioritize asset-backed transactions, those with recurring revenue, or situations with multiple and separable pools of value.

“The closing of our OFIII Europe fund represents a natural extension of our Opportunistic platform and enables us to fund our significant pipeline of investment opportunities in Europe,” said Michael Guy, Chief Investment Officer – Europe, who will oversee the fund. “We are grateful to the strong support by our institutional partners and we look forward to executing our investment strategy in the same disciplined manner as we have since 2015.”

Related: JPMorgan Asset Management Closes $1.06 Billion Special Situations Fund