Crestline Closes Second European Fund at $625 Million

The new fund targets asset-backed businesses, providing structures ranging from senior debt to equity. Investment strategy centers on collateralized opportunities, spanning real estate, infrastructure, and esoteric assets like music royalties or litigation finance. Managed by a leadership team with two decades of collaborative experience, the fund has already deployed 35 percent of its capital across a diversified portfolio since its 2025 launch.

Michael Guy, Executive Managing Director and Head of European Credit, noted that the fund addresses a specific need for speed and underwriting expertise in the lower-middle-market. This strategy leverages the firm’s proprietary sourcing network to secure bilateral opportunities. As of March 31, 2026, Fort Worth-based Crestline managed approximately $18 billion in credit assets, operating as a subsidiary of Rithm Capital Corp.