# Crescent Capital Advisors

Crescent Capital Advisors is an Asset Manager based in Los Angeles, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Los Angeles, United States
- **Region:** North America
- **Address:** Los Angeles, CA, United States
- **Founded:** 1991
- **Assets under management:** $45 billion (per the firm, 2024)
- **Website:** crescentcap.com
- **LinkedIn:** https://www.linkedin.com/company/crescent-capital-group

## Regulatory record

- **CRD number:** 175430
- **SEC file number:** 801-81168
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/175430

## About

Crescent Cap Advisors, LLC is an SEC-registered investment adviser in Los Angeles, CA, registered since 2015. The firm manages approximately $1.8 billion in regulatory assets. It is based in Los Angeles.

## Sectors

- Private Credit
- Secondaries & Special Situations

## Offices

- New York, NY
- Boston, MA
- London, United Kingdom

## People

- Jean-Marc Chapus — Managing Partner
- Mark Attanasio — Co-Founder and Managing Partner
- Chris Wright — Co-Founder and Senior Advisor

## Questions

### What is the relationship between Crescent Capital and the Milwaukee Brewers?

Mark Attanasio, a co-founder and Managing Partner of Crescent Capital, is the principal owner and chairman of the Milwaukee Brewers Major League Baseball franchise, which he purchased in 2005. The investment activities of Crescent Capital are institutionally managed and entirely separate from Attanasio's personal sports holdings. The firm's institutional client capital is not intermingled with the Brewers ownership structure.

### How does Crescent Capital BDC fit into the firm's broader strategy?

Crescent Capital BDC, Inc. is a publicly traded Business Development Company that serves as a permanent capital vehicle for the firm's direct-lending strategy. It targets senior secured, unitranche, and junior debt investments in middle-market companies predominantly owned by private equity sponsors. The structure allows Crescent to hold loans through economic cycles without the forced exits that characterize traditional closed-end drawdown funds.

### What types of credit investments does Crescent Capital specialize in?

Crescent deploys capital across the full capital structure of middle-market borrowers, including senior secured first-lien and unitranche loans, subordinated second-lien and mezzanine debt, holdco PIK notes, and equity co-investments alongside sponsor groups. The firm also manages dedicated strategies in opportunistic credit and special situations, allowing it to pivot into dislocated or secondary-market credits when pricing widens.

### Who are Crescent Capital's typical counterparties on deals?

Crescent primarily lends to companies owned by middle-market private equity sponsors, a universe in which the firm reports relationships with more than 300 sponsor groups. The firm acts as a lead arranger, administrative agent, or syndicate participant depending on deal size. It also co-invests alongside other institutional credit managers in broadly syndicated transactions where it can influence documentation.

### Does Crescent Capital manage capital for retail investors or only institutions?

Crescent's client base is overwhelmingly institutional, including public and corporate pension plans, sovereign wealth funds, insurance companies, and endowments. However, the public listing of Crescent Capital BDC, Inc. on Nasdaq means that retail investors can access the firm's direct-lending strategy via shares purchased in the open market, though the BDC itself is structured as an externally managed, institutionally oriented vehicle.

### What is Crescent Capital's European footprint?

Crescent maintains a London office that originates, underwrites, and monitors European direct-lending and special-situations investments. The European strategy generally mirrors the North American approach: sponsor-backed middle-market lending with a focus on senior secured positions. The London team operates as an integrated part of the firm's global private credit platform rather than as a separate silo.

### How does Crescent Capital's special-situations strategy differ from its direct-lending business?

The special-situations strategy targets companies experiencing operational, financial, or market-driven dislocation rather than performing sponsor-backed buyouts. Investments include rescue financing, debtor-in-possession loans, distressed-for-control transactions, and secondary purchases of loan portfolios at discounts to par. This strategy aligns with parts of the credit cycle where traditional direct-lending origination slows.

## Related profiles

- [Credit Period](https://altss.com/profile/credit-period)
- [Crescent Cove Private Equity](https://altss.com/profile/crescent-cove-private-equity)

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Last updated: 2026-06-03T20:00:00.000Z

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