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Crescent Capital Group
Crescent Capital Group manages $41 billion in private credit and special situations, founded in 1991 by Jean-Marc Chapus and Mark Lossett.
Crescent Capital Group
Crescent Capital Group was founded in 1991 by Jean-Marc Chapus and Mark Lossett, emerging from TCW's credit platform. The firm began as a domestic credit manager and expanded into European direct lending in the early 2000s. The firm invests across senior secured loans, unitranche, second-lien, mezzanine, and equity co-investments, with a focus on middle-market companies. Crescent also maintains a distressed and special situations fund. Confirmed portfolio investments include the 2024 refinancing of KIK Custom Products and the 2023 acquisition financing for One Day U. Geographic footprint spans North America and Europe, with offices in Los Angeles, New York, Boston, and London. Crescent manages $41 billion in assets under management (per firm, 2025) with over 180 professionals. The firm operates a separate real estate debt platform, Crescent Real Estate, and has a long-tenured investment committee. In October 2024, Crescent closed Crescent Direct Lending Fund IV at $2.5 billion (per firm announcement, October 2024). A structural differentiator is Crescent's origination platform: unlike many credit managers that rely on syndicated markets, the firm sources the majority of its deals through proprietary relationships with middle-market private equity sponsors. This model reduces reliance on broadly syndicated loan markets and allows for tighter structuring.
General information
Firm type
Asset Manager
Year founded
1991
AUM
$41 billion (per firm website, 2025)
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Additional offices
New York · London · Boston
Principals
Jean-Marc Chapus
Co-Founder
Mark Lossett
Co-Founder
Todd Hammer
President
Sarah F. Young
Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at Crescent Capital Group?
Crescent's investment decisions are made by a senior leadership team including co-founders Jean-Marc Chapus and Mark Lossett, along with President Todd Hammer and a dedicated investment committee. The firm operates with sector-based origination teams in direct lending, distressed, and real estate.
How does Crescent source proprietary deal flow?
Crescent sources most of its direct lending deals through relationships with middle-market private equity sponsors. The firm maintains a network of sponsor focus teams in North America and Europe that originate transactions outside of broadly syndicated markets.
Is Crescent Capital Group structured as a family office?
No. Crescent Capital Group is a registered investment adviser and asset manager focused on credit strategies. It is not a family office, though it was originally spun out of TCW with backing from institutional investors.
Does Crescent participate in fund commitments or only direct deals?
Crescent primarily commits capital through its own commingled funds. The firm offers separate accounts and co-investment vehicles alongside its direct lending, special situations, and real estate debt funds. Co-investments are typically offered to limited partners.
What investment stages does Crescent typically target?
Crescent focuses on middle-market companies with EBITDA between $10 million and $100 million. The firm targets senior secured and unitranche loans, second-lien, mezzanine, and distressed investments. It does not typically invest in startup or venture-stage companies.
Which sectors does Crescent explicitly avoid?
Crescent publicly avoids direct exposure to certain high-volatility sectors such as pure-play energy exploration, early-stage biotech, and commodities trading. The firm's credit focus means it avoids private equity-style control investing except in limited distressed scenarios.
Does Crescent maintain philanthropic structures?
Crescent Capital Group does not operate a publicly disclosed foundation or philanthropic arm. However, credit funds managed by Crescent do not include charitable activities as part of their mandate; any philanthropic activity is separate from the firm's business.
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