Crestline raises $1bn for portfolio financing fund

Crestline Investors closed its second fund focused on portfolio finance, raising $1 billion in commitments from large public pensions, endowments, insurance companies, sovereign wealth funds and other allocators.

Portfolio Financing Fund II invests in NAV loans and preferred equity offerings. The $13.8 billion investment firm is based in Forth Worth, Texas, and has been active in the NAV lending space via its $1.7 billion Fund Liquidity Solutions Group.

The group provides custom financing arrangements to private equity funds and other private asset vehicles that are seeking additional capital to support, grow and protect . . .

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