Crescent Closes $350 Million Collateralized Loan Obligation on July 20, 2023

Atlas Senior Loan Fund XXI Closed During the Current Period of Heightened Market Volatility and with Broad Investor Support

LOS ANGELES – July 24, 2023 – Crescent Capital Group LP, a leading alternative credit investment firm, announced today the closing of Atlas Senior Loan Fund XXI (“Atlas 21”), a collateralized loan obligation (“CLO”) fund with a target par amount of $350 million. Atlas 21 will invest primarily in U.S. senior secured term loans as well as select senior secured corporate bonds. Atlas 21 marks the 24th CLO fund that Crescent has completed since the Great Financial Crisis in 2008.

“We are proud to have closed Atlas 21 amidst heightened market volatility and are pleased with the broad investor support we have received for this fund,” said Kimberly Frazier, CLO Portfolio Manager at Crescent. “The closing of Atlas 21 builds on Crescent’s 30-year track record as a CLO manager and continues the solid momentum within our CLO platform in recent years. Our team continues to take a disciplined approach to credit selection with a focus on delivering attractive risk-adjusted returns in a challenging market environment.”

Since 1992, Crescent’s Capital Markets Group has issued and managed CLOs through multiple market cycles. The platform is supported by an integrated team in New York and Los Angeles covering the leveraged loan, high yield, and CLO markets. As of June 30, 2023, Crescent had approximately $42 billion of assets under management.

“CLOs continue to offer compelling risk-adjusted returns across the risk spectrum and are positioned to benefit from recent market volatility,” said John Fekete, Crescent’s Head of Capital Markets. “CLO equity, in particular, looks poised to benefit from historically-elevated bank loan spreads and the optionality imbedded in potential future reset or refinancing transactions.”

About Crescent Capital

Crescent Capital Group is headquartered in Los Angeles with offices in Boston, Chicago, London, and New York. With more than 100 investment professionals and over 210 employees, the firm invests at all levels of the capital structure, with a significant focus on below investment grade credit through strategies that invest in senior bank loans, unitranche loans, high yield debt, mezzanine debt, and other private debt securities. As of June 30, 2023, Crescent Capital Group managed approximately $42 billion of privately originated debt investments and marketable securities. For more information about Crescent Capital Group, please visit www.crescentcap.com.

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