Crestline Investors, the Texas-based alternative asset manager focused on credit, has promoted Dave Philipp to partner.
Philipp sits on the Crestline management committee in addition to his role as co-head of the fund liquidity solutions group, which includes its NAV lending platform. He has been with the firm since 2013, when Crestline first entered the preferred equity and restructuring space, as affiliate title Secondaries Investor reported back in 2017.
The strategy originally focused on underperforming funds and later broadened to include mature but successful funds, as well as a variety of special situations. The firm launched its complete portfolio financing and fund structuring offering in October of 2016.
Crestline is currently in the market with its second fund, Crestline Portfolio Finance Fund II, according to Secondaries Investor data. The first fund in the series came in just under $600 million.
This move comes on the heels of preferred equity specialist 17Capital’s flurry of promotions earlier in the week, Secondaries Investor reported, including naming two co-heads of credit responsible for its NAV-based lending business.