Crescent Capital Group has launched Crescent Private Credit Income Corp. (CPCI), a non-exchange traded, perpetual-life business development company (BDC).
CPCI seeks to deliver Crescent’s credit expertise to investors by providing access to a diversified portfolio consisting primarily of sponsor-backed, directly originated assets, including debt securities and related equity investments, made to or issued by U.S. middle-market companies. CPCI’s primary focus is to invest in companies with annual net income before net interest expense, income tax expense, depreciation and amortization (EBITDA) between $35 million and $120 million (although it may invest in larger or smaller companies). CPCI may also make investments in syndicated loans and other liquid credit opportunities, including in publicly traded debt instruments, for cash management purposes, while also presenting an opportunity for attractive investment returns.
“We believe the launch of CPCI provides indi