(Bloomberg) -- Crestline, an alternative-asset manager, is exploring strategic options including a sale, according to people familiar with the matter.
The Fort Worth, Texas-based firm is working with an adviser as it solicits interest from potential suitors, said one of the people, who asked not to be identified discussing confidential information.
Founded in 1997, Crestline had more than $18 billion of assets under management at the end of last year. The firm specializes in credit and so-called opportunistic investments.
A Crestline spokesman declined to comment.
The firm, which provides capital to middle-market companies, is led by founding partner Douglas Bratton, who’s also chief executive officer and co-chief investment officer, as well as managing partner and co-CIO Keith Williams.
Crestline has deployed more than $12 billion in over 300 transactions via its credit strategies, according to its website. It also provides asset-backed financing for private equity funds and has its own hedge fund.
Consolidation in the alternative investment industry is ramping up as investors become more picky about where they park their cash amid high interest rates and elevated inflation
BlackRock Inc. agreed to buy Adebayo Ogunlesi’s Global Infrastructure Partners for about $12.5 billion earlier this year in a transformative deal for the industry, sparking predictions that more will follow. This has, in part, come to fruition, with Blue Owl Capital Inc. striking three deals in recent months, including agreeing to buy credit manager Atalaya Capital Management last week.
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