Since our first cross-border investment in 1993, Europe has been an important region of Crescent’s investment strategies. We invest in both primary and secondary issuances of European loans and high yield bonds. In each case, our objective is to provide investors with attractive risk-adjusted returns and current income while seeking preservation of principal investment. The expansion of Crescent’s European credit capabilities is a direct result of input from our investors who seek to capitalize on Crescent’s track record of investing in credit markets and to utilize its platform and relationships to identify attractive opportunities outside of the U.S.