SLC Management Invests $150M in Crescent Private Credit
Crescent Private Credit Income Corp. (CPCIC) has officially launched, backed by a substantial seed capital investment of $150 million from SLC Management. This milestone signifies CPCIC’s entry into the credit market with a solid foundation. CPCI seeks to leverage Crescent’s extensive credit platform, which managed over $40 billion in assets and employed 210 individuals, including more than 100 investment experts, as of June 30, 2023.
Its main goal is to expand Crescent’s credit expertise to investors, offering access to a diversified portfolio primarily composed of directly originated assets tied to sponsor-backed U.S. middle-market companies. The focus remains on companies with annual EBITDA ranging from $35 million to $120 million, with potential considerations for larger or smaller firms. Additionally, CPCI may explore syndicated loans and other liquid credit opportunities, including publicly traded debt instruments, for cash management while striving for attractive investment returns.
Empowering Investment Strategies
CPCIC is committed to empowering innovative investment strategies within the credit market. It aims to leverage its capital efficiently to generate attractive risk-adjusted returns for its investors while focusing on credit risk management.
SLC Management, Sun Life’s institutional asset management arm and Crescent’s majority owner expresses confidence in middle-market direct lending and Crescent’s ability to deliver attractive returns by committing $150 million to CPCI. As of June 30, 2023, SLC Management oversaw $273 billion in assets.
Key Collaborators Propel Cresent Private Credit’s Market Entry
Emerson Equity LLC, a FINRA and SIPC member, acts as the intermediary manager and will engage selected broker-dealers to distribute shares to individual investors. Advisors Asset Management, another FINRA and SIPC member, collaborates with Crescent, providing marketing and wholesaling services for CPCI and aiding the broker-dealers engaged in share distribution to individual investors.
Crescent Private Credit Income Corp. (CPCIC) makes its mark in the credit market with a substantial $150 million seed capital investment from SLC Management, marking a major sector milestone. CPCIC’s entry is motivated by its unwavering commitment to excellence and its goal of providing appealing risk-adjusted returns.
