The Crescent Capital Markets platform consists of strategies primarily investing in U.S. and European senior loans and high yield bonds. For 30 years, our experienced team of portfolio managers, analysts and trading professionals have provided the foundation of our credit and market expertise.
Crescent’s first priority is to serve the needs of its investors. We earn our investors’ confidence through our market insights, experience and ability to successfully invest and manage capital over full market cycles.
Alternative Credit
Crescent’s Alternative Credit strategy is designed to provide maximum flexibility to capture attractive investment opportunities across the universe of below investment grade credit. The strategy may employ modest leverage and utilizes shorts and credit derivatives to achieve its investment objective and mitigate portfolio volatility in down markets. Managed by a highly experienced team, this strategy utilizes the Firm’s robust credit research and trading platform.
Bank Loans
Crescent has been active in the syndicated bank loan market since 1993 and has a history that pre-dates the popular loan market benchmarks. Over the years, we have developed the loan underwriting discipline, credit judgment, and market relationships that allow us to exploit the opportunities in the loan market without unduly risking our clients’ principal. We construct diversified portfolios that we believe offer a very competitive risk-adjusted return profile, taking into account current income and collateral valuation for downside protection.
Europe
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.
High Income
Crescent’s High Income strategy combines the firm’s expertise in below investment grade bank loans and bonds, which allows portfolio managers to tactically allocate capital to the most attractive credit opportunities at any given time. During periods of increased volatility in the capital markets, we believe that the ability to allocate between various income-generating asset classes can be a value add for many investors. Our High Income strategy aims to respond quickly to market changes by dynamically shifting our asset allocation to segments of the credit markets offering the best total return while reducing overall portfolio risk.
High Yield
Crescent is one of the most experienced high yield bond managers in the industry. For 30 years, we have relied on fundamental bottom-up credit research to capture inefficiencies across all rating segments of the high yield bond market. With a focus on the middle- and upper-tier credit classes, our strategy seeks to consistently deliver excess return with below average volatility. Most importantly, our portfolios are diversified and emphasize current income and capital preservation.
Structured Products
Crescent’s Structured Products team has extensive experience in the structuring and management of a diverse portfolio of collateralized debt obligations, including bank loans, high yield and mezzanine assets with a recent focus on cash flow bank loan transactions. Since 1993, Crescent has issued, managed, sub-advised or assumed over 35 structured funds totaling over $15 billion in original par value. The team combines our longstanding Capital Markets credit research and diligence capabilities with “state of the art” structured product expertise and infrastructure, including robust in-house modeling and compliance tracking capabilities. Our objective is to provide investors with attractive risk-adjusted returns and meaningful current income.
