Crestline Investors (“Crestline”), a leading provider of fund liquidity solutions, announced the completion of a $200 million Net Asset Value (“NAV”) loan to a diversified alternative asset manager (the “Borrower”).
The facility is secured by a portfolio of over 50 top-level positions spanning real estate, infrastructure, and credit assets. On a look-through basis, the collateral expands into thousands of underlying positions, which can provide diversification across sectors and asset types.
The transaction was executed in two tranches. The initial $150 million facility (Tranche A), completed in August, supported both new and existing portfolio investments. The facility was subsequently upsized in December 2025 with an additional $50 million (Tranche B), structured as a shorter-term bridge to support incremental investment in a key underlying asset.
“We viewed this as a well-diversified transaction with a strong sponsor and a clear line of sight into an accretive use of proceeds,” said Matthew Derr, Director at Crestline. “The breadth of our underwriting capabilities across asset classes enables us to evaluate multiple investment verticals within a single portfolio, providing us with the ability to structure solutions for borrowers with multi-asset class exposure.”
With a strong track record in NAV-based lending and a commitment to delivering tailored, capital-efficient solutions, Crestline remains an experienced partner for managers navigating today’s evolving private markets.
About Crestline Management, L.P.
Crestline is a global alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Tokyo, and Toronto. The firm has approximately $18 billion of credit assets under management (as of September 30, 2025) including its capital solutions, direct lending, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
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