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Crestline Investors

Institutional investoroperating company · company profile

Fort Worth · Growth–Late Stage · 91 people tracked

Also known as CRESTLINE MANAGEMENT, L.P.

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Investment thesis

Crestline is an alternative investment manager focused on providing flexible capital across the capital structure to middle-market and lower-middle-market businesses. It applies sector-specific expertise across several platforms: Capital Solutions (senior debt to structured equity for underserved or capital-constrained companies, real estate lending, and specialty finance), Direct Lending (senior secured, unitranche, and second-lien debt), Fund Liquidity Solutions (bespoke NAV finance for GPs and family offices), Crestline Europe (private credit, equity, and hybrid structures for European companies), and Derivative Solutions (hedging and beta overlay for institutional investors). It also offers annuity products through CL Life. Strategies are designed to perform through multiple market cycles.

Source: firm website, verified Oct 5, 2026.

Stage
Growth–Late Stage
HQ
Fort Worth, US
Instruments
Debt
Founded
1997
AUM
$22.5B
Tracked investments
7
Acquisitions
1

Team · 91 people

from the firm's website
Rich· Senior Tax Manager

Senior Tax Manager since 2021; previously worked on federal tax compliance at Deloitte.

What they invest in

from 7 of 7 portfolio companies

Healthtech ×3Digital Health ×2Biotech ×1Cloud Computing ×1Energy ×1Enterprise Software ×1Fintech ×1Hardware ×1

HQs:United States×6

Investments · 7 tracked

founders shown can be your intro path

By year:2021 · 12018 · 22013 · 14 dated

Actifioactifio.comAug 2018 · $100M

Actifio provides enterprise-class backup and disaster recovery solutions for Google Cloud and hybrid workloads through a SaaS platform.

Cloud ComputingEnterprise SoftwareSaaSWaltham, US

Ashutosh Ashutosh(Executive Officer, Director)Brian Reagan(Executive Officer)Edward Durkin(Executive Officer)inJim Sullivan(Executive Officer)David Dyer(Executive Officer)David Chang(Executive Officer)

Co-investors83NorthAndreessen HorowitzOpen Field CapitalSavano Capital PartnersG20 VenturesNorth Bridge Venture Partners & Growth Equity+3 more

Cartessa Aestheticscartessaaesthetics.cominApr 2021

Cartessa Aesthetics sources and distributes aesthetic medical devices from leading global manufacturers to dermatologists, plastic surgeons, and medical spas in the U.S. and Canada.

HardwareHealthtechMedical DevicesWellness & Fitness

Gabe Lubin(Founder, Principal and Chairman)inA.J. Storrs(Chief Operating Officer)

Co-investorsCopley Equity Partners LLC

CL Lifecllife.comin

CL Life offers annuity products designed to provide stable income and interest rate guarantees for retirement planning.

FintechInsurTechFort Worth, US

Juno Therapeuticsjunotherapeutics.comDec 2013Acquired

Seattle-based cancer immunotherapy company developing CAR-T and TCR cell therapies; acquired by Celgene, now part of Bristol-Myers Squibb.

BiotechSeattle, US

Hans Bishop(Executive Officer, Director, Promoter)Richard Klausner(Director, Promoter)Bernard J. Cassidy(Executive Officer)Robert Azelby(Executive Officer)Sunil Agarwal(Executive Officer)Rupert Vessey(Director)

Co-investorsARCH Venture PartnersBezos ExpeditionsRidgeback CapitalAlaska Permanent Fund CorporationVenrock

Upperline Healthupperlinehealth.cominApr 2018 · $58.4M

Upperline Health operates a multispecialty medical practice network offering podiatry, endocrinology, and primary care clinics across the United States, using a value-based, whole-person care model.

Digital HealthHealthtechNashville, US

David Thorpe(Founder & Chief Executive Officer)inStephen Nash(Executive Officer)inChristiana Beveridge, MD(President & Chief Medical Officer, Upperline Plus)Jenn Booker(Population Health Officer, Upperline Health)inMichael King, DPM(Chief Medical Officer, Podiatry, Upperline Health)in

BoardMike Lester(Director)

Co-investorsSilversmith Capital Partners

Urgent Teamurgentteam.comin

Urgent Team operates a network of urgent care and walk-in medical centers offering treatment for non-emergency injuries and illnesses as well as occupational health services such as DOT physicals and employment health assessments.

Digital HealthHealthtech

Tom Dent(CEO)in

Co-investorsRC CapitalSV Health Investors

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Meritum Energy Holdings

Fund performance · per public LP disclosures · 5

as of Sep 2025
FundVintageCommittedNet IRRTVPIDPI
Crestline Opportunity Fund V Onshore T/STE, L.P.LPs: New York City Board of Education Retirement System2023—13.6%1.24x0.17x
Crestline Portfolio Financing Fund, L.P.LPs: San Bernardino County Employees Retirement Association2018—8.7%—1.38x
CRESTLINE OPP FUND V ONSHORELPs: New York City Board of Education Retirement System———1.11x—
Prt FinLPs: San Bernardino County Employees Retirement Association——10.4%——
Prt Fin IILPs: San Bernardino County Employees Retirement Association——11.4%——

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Crestline Investors made?
Crestline Investors has 7 tracked investments, 1 of which have exited.
What stage does Crestline Investors invest at?
Crestline Investors invests at the Growth, Late Stage stages.
What sectors does Crestline Investors focus on?
Crestline Investors focuses on AI & Machine Learning, Data & Infrastructure, Energy, Fintech, PropTech, Sector Agnostic.
Where is Crestline Investors located?
Crestline Investors is headquartered in Fort Worth, US.

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