Crescent Capital Group closed its latest private credit fund, Crescent Credit Solutions VIII, at $8 billion including leverage and capital committed to separately managed accounts, spokesman Bill Mendel said.
The fund's target was $4 billion. Not including leverage, total equity raised by Crescent Credit Solutions VIII is close to $6 billion, sources said. By comparison, the prior fund in the series, Crescent Mezzanine Partners VII closed in 2017 with $4.6 billion.
Investors in the new fund include $24.1 billion Louisiana Teachers' Retirement System, Baton Rouge.