Crescent Capital Raises $3 Billion for Credit Continuation Fund

Crescent Capital Group is preparing a $3 billion credit continuation fund to move assets from its Crescent Mezzanine Partners VII fund. The fund aims to raise about $3 billion, which could change based on negotiations with buyers. Private credit is a growing segment in the secondhand stakes market, with a record $102 billion in volume for the first half of the year.