Junior capital has been integral to Crescent Capital’s activities since the firm was founded in the early 1990s by former Drexel Burnham Lambert investment bankers Mark Attanasio, Robert Beyer and Jean-Marc Chapus.
At the time, the firm’s junior debt business complemented its syndicated loan and bond investment efforts. It went on to raise its first institutional mezzanine fund in 1995 – the same year it was acquired by TCW Group, which had just seen a certain Howard Marks depart for Oaktree Capital Management.
