Crescent Closes Atlas Senior Loan Fund XXIV, a new $400 Million Collateralized Loan Obligation

The transaction received strong demand from across the capital stack, including from investors that are repeat buyers of Crescent CLOs as well as several new investors, and achieved tighter-than-expected pricing across all debt tranches.

LOS ANGELES – December 10, 2024 – Crescent Capital Group LP, a leading alternative credit investment firm, announced today the closing of Atlas Senior Loan Fund XXIV (“Atlas 24”), a collateralized loan obligation (“CLO”) fund with a target par amount of $400 million. Atlas 24 will invest primarily in U.S. senior secured term loans as well as select senior secured corporate bonds. Atlas 24 marks the 27th CLO fund that Crescent has completed since the Great Financial Crisis in 2008.

“We are pleased to welcome several new investors, who joined our existing long-term investors in successfully closing Atlas 24,” said Kimberly Frazier, CLO Portfolio Manager at Crescent. “The closing of Atlas 24 further strengthens Crescent’s 30-year track record as a CLO manager and reinforces the growth within our CLO platform in recent years.”

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 September 30, 2024, Crescent had approximately $43 billion of assets under management.

“CLOs remain an attractive opportunity by offering compelling risk-adjusted returns across the risk spectrum,” said John Fekete, Crescent’s Head of Capital Markets.

About Crescent Capital Group LP

Crescent is a global credit investment manager with $43 billion of assets under management as of September 30, 2024. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, Chicago and London with more than 225 employees globally. Crescent is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. For more information about Crescent, visit www.crescentcap.com.

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Bill Mendel
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