Crestline Investors (“Crestline”) announced today that funds managed by its U.S. Direct Lending business served as administrative agent and sole lender on a senior secured credit facility for LeaseCrunch.
LeaseCrunch is a leading provider of lease accounting and lease management software solutions in North America and has been a portfolio company of Aquiline Capital Partners since December 2023. The company was founded in 2016 by a team of former CPAs and accounting auditors and has grown to support over 625 CPA firms, including many of the largest in the US.
“LeaseCrunch’s critical market role, recurring revenue model, and significant growth potential embodies the types of investments we aim to support with our capital,” said Nicholas Martino, Director at Crestline Investors. “As LeaseCrunch continues to execute its growth strategy, we believe the Company is well-positioned to benefit from its innovative platform, entrenched customer base, and the backing of a reputable sponsor like Aquiline.”
“The funding provided by Crestline is instrumental to fueling our growth initiatives, enabling us to pursue strategic acquisitions that complement our existing offerings and extend our capabilities in line with customer demand,” said Timothy Kohler, Co-Founder of LeaseCrunch.
“We particularly value Crestline’s collaborative approach”, said Bruce Crabtree, a principal of Aquiline Capital Partners. “Their support has been invaluable in helping LeaseCrunch optimize its capital structure and position the Company for continued growth and success.”
About Crestline Investors
Crestline Investors, Inc is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York City, Toronto and Tokyo. The Firm has approximately $18 billion in assets under management (as of December 31, 2023), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
About LeaseCrunch
LeaseCrunch offers easy-to-use, automated lease accounting software that significantly reduces the time needed to transition, account for and maintain leases in compliance with new lease accounting standards, ASC 842, GASB 87, GASB 96 and IFRS 16. The platform is being used by more than 625 CPA firms and 25,000 companies across the United States.
About Aquiline Capital Partners
Aquiline Capital Partners LP is a private investment specialist based in New York, London, Philadelphia, and Greenwich, Connecticut, that invests across financial services and related technologies. The firm has $10.4 billion in assets under management as of March 31, 2024. For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.
