March 10, 2023

This site is for informational purposes only and does not constitute an offer to sell or a solicitation of any offer to buy or sell securities of any entity, investment product or investment advisory service. Any offer will be made only pursuant to a confidential offering memorandum. There can be no guarantee that the Funds will achieve their investment objective.  An investment in the Funds is speculative and involves a high degree of risk, and investors risk loss of their entire investment.  Past performance is not indicative of future performance.

Any opinions expressed herein are our current opinions only. There can be no assurance or guarantee that any Crestline investment strategy will achieve its stated goal.  All information provided hereinis for informational purposes only. In addition, it should not be assumed that any of the securities and/or strategies discussed herein were or will prove to be profitable. Crestline accepts no liability for loss arising from the use of this material.

Some information contained herein is based on data received from third parties that we consider reliable and is accurate to the best of Crestline’s knowledge.  However, Crestline has not independently verified the information and does not otherwise give any warranty as to the truth, accuracy, or completeness of such third party data, and it should not be relied upon as such. The material is not intended to be a formal research report and nothing herein should be interpreted to state or imply that past results are an indication of future performance.

Crestline makes no representations or warranties, express or implied, to you on which you may rely with respect to the information contained herein (including without limitation, as to accuracy or completeness, the inclusion or omission of any facts or information, or as to its suitability, sufficiency or appropriateness for your purposes ).  The information contained herein may contain forward looking statements, which statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict. Therefore, actual future results and trends may differ materially from what is described in forward-looking statements due to a variety of factors. This site has been designed for informational purposes only and under no circumstances should any information contained herein be used or considered to be an offer to sell or solicitation of any offer to buy any securities or any other instruments.  Crestline does not undertake any obligation to update or provide to you any revisions to the information contained herein to reflect events, circumstances or changes in expectations after the date such information was derived, developed, reviewed or created by Crestline.

This site may contain "forward-looking statements" within the United States Private Securities Litigation Reform Act of 1995. Statements that are predicative in nature, that depend upon or refer to future events or conditions or that include words such as “aims,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “seeks,” “thinks,” and similar expressions are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially.

General Risks of Investing in the Crestline Funds
An investment in the Funds is speculative and involves a high degree of risk. The Funds are generally not subject to regulatory restrictions or oversight. Crestline Management, L.P., is a federally registered investment adviser and provides investment advice through various affiliates and subsidiaries. Crestline Canada, Inc. and its subsidiary Crestline Canada Sub, L.P. are investment managers doing business in Canada that provide the “beta” overlay advice to Crestline Management, L.P. and certain Canadian trusts. Crestline Europe, LLP, registered with the Financial Conduct Authority (“FCA”), serves as the European investment adviser and is helping Crestline with investment diligence and analysis for its clients on certain primarily European opportunities. The Funds may employ leverage, which among other investment techniques, can make their investment performance volatile.  Opportunities for redemptions and transferability of interests in the Funds are restricted so investors may not have access to their capital if and when it is needed.  There is generally no secondary market for an investor’s interest in the Funds and none is expected to develop.  The Funds’ management fees, incentive fees/allocations, and expenses, may offset their trading profits.  An investor should not invest in the Funds unless it is prepared to lose all or a substantial portion of its investment.

Federal Transparency in Coverage Rule
This link leads to the machine readable files that are made available in response to the federal Transparency in Coverage Rule and includes negotiated service rates and out-of-network allowed amounts between health plans and healthcare providers. The machine-readable files are formatted to allow researchers, regulators, and application developers to more easily access and analyze data.

Crestline Europe, LLP is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.


To the extent the Firm is investing on behalf of investors in shares traded on a EEA regulated market or comparable markets, under COBS 2.2B.5R of the Financial Conduct Authority's (“FCA”) Conduct of Business Sourcebook, Crestline Europe, LLP (“Crestline” or the "Firm"), is required to publicly disclose a clear and reasoned explanation of why it has chosen not to:

  • develop and publicly disclose an engagement policy meeting the requirements in COBS 2.2B.6R; and
  • publicly disclose on an annual basis how its engagement policy has been implemented in a way that meets the requirements of COBS 2.2B.7R.

Crestline Europe, LLP is currently operating under an Advisory Mandate, and as such is not managing the investments of shares traded on EEA and other comparable markets. Crestline Europe, LLP is a participating affiliate of Crestline Management, L.P., an investment adviser registered with the US Securities and Exchange Commission, and assists Crestline with investment diligence and analysis on certain primarily European opportunities within Crestline’s opportunistic strategies. Crestline’s opportunistic investment strategy is designed to capitalize on market inefficiencies and dislocations caused by banking regulations, rules‐based investors in private debt, private equity, venture capital, and hedge fund strategies that eliminate investments outside of tightly defined mandates, and market volatility. Crestline will seek to provide capital solutions to under‐served or capital constrained asset classes, including small and medium‐sized businesses, out‐of‐favor sectors or assets, companies in some form of transition, and stressed or special situations. As such, exposure to listed companies is generally not a part of Crestline’s opportunistic strategy.

While the Firm generally supports the objectives that underlie SRD II, the investment strategy, and the nature of the financial instruments used to execute the strategy do not embrace engagement with investee companies, and the Firm does not consider that its clients expect such engagement.

Past performance as well as third party awards and ratings are not a guarantee of future results. It should not be assumed that the future performance of any Crestline fund will equal its prior performance results or the results of any previous fund with a similar strategy, and investors risk loss of their entire investment.

Private Debt Investor
2018, 2019, 2020, 2021 PDI Awards – Fund Financier of the Year, Americas: Crestline was selected by the PDI editorial team to be on a short list of nominees for the awards and was selected as the winner of the awards through a voting process by industry participants and PDI readers. The selection of Crestline to receive the awards was based in part on subjective criteria and a limited universe of candidates, and therefore there can be no assurance that a different editorial team or different group of voters might not have nominated or selected other firms as the winners.

The 2018 PDI Awards Fund financier of the year, Americas was awarded in Q1 of 2019. The 2019 PDI Awards Fund financier of the year, Americas was awarded in Q1 of 2020. The 2020 PDI Awards Fund financier of the year, Americas was awarded in Q1 of 2021. The 2021 PDI Awards Fund financier of the year, Americas was awarded in Q1 of 2022.

Hedge Fund Journal
Crestline Specialty Lending Fund I received The Hedge Fund Journal’s Alternative and Private Credit 2021 award for Best 2014 Vintage in the Direct Lending – Senior, US category. The awards for closed end funds were based on IRR data from Preqin database: Private Capital Benchmarks> North American Direct Lending> 2014 Vintage. Preqin is a leading provider of data, analytics, and insights to the alternative assets community. Preqin may not have exhaustive coverage or complete information of all such North American Direct Lending funds launched in 2014.

Crestline Summit Equity Alpha was named Best Market Neutral Hedge Fund at the Hedgeweek US Awards 2020. In receiving the award, Crestline Summit Equity Alpha was identified on a shortlist based on annual performance data compiled by Bloomberg for the 12-month period from May 1, 2019 to April 30, 2020. The industry then voted on the manager nominee shortlists. Voters included institutional and high net worth investors as well as peers and other industry professionals at fund administrators, prime brokers, custodians and advisers.

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