April 2020

Firstavenue would like to congratulate Crescent Capital Group LP on the final closing of their Crescent European Specialty Lending Fund II at EUR 1.75bn (including anticipated leverage).

The Fund raised limited partner commitments of EUR 1.6bn compared to a target of EUR 1.0bn and was oversubscribed, leading the fund to raise its hard cap.  CESL II has already deployed EUR 387mn across 12 investments and seeks to follow the success achieved across their Fund I.


FIRSTavenue acted as Placement Agent.


Tavneet Bakshi, Head of EMEA & Partner at Firstavenue said: “We were thrilled to be working with Crescent for a second time. The CESL team have continued to impress the market with their rigorous diligence and differentiated focus on the lower mid-market in Europe. This was a great achievement for the CESL team and we were very glad to play a part in their success”.

About Crescent
Crescent is an independent credit firm founded in 1991 which currently manages over $28 billion across private and public credit. Crescent made its first European private debt investment in 1993 and opened its European office in 2005. Today the European strategy has a dedicated team of eleven professionals led by Christine Vanden Beukel who has invested over €4 billion in European private debt. The Fund seeks to provide bespoke loans (with a preference for senior secured) to growing, mid-market sponsor-backed European companies.

About Firstavenue
FIRSTavenue is a leading global placement agent and advisory firm. We are focused on raising capital for private funds and companies and providing advice on private secondary transactions. FIRSTavenue operates across three asset classes: private credit, private equity and infrastructure. We are a team of over fifty professionals based in four offices across the globe. For more information on FIRSTavenue, please visit