Crescent Capital Group LP Closes $3.2 Billion Private Credit Continuation Vehicle in Largest Transaction to Date.

Crescent Capital Group has closed a $3.2 billion private credit continuation vehicle, CCS VII CV, to acquire a diversified portfolio of performing sponsor-backed loans and securities from a 2016-vintage fund. The transaction is the largest credit continuation vehicle in the private credit secondaries market to date, led by Pantheon and co-led by Allianz Global Investors. Jefferies LLC served as financial adviser, and Kirkland & Ellis LLP acted as legal counsel for Crescent.