Crestline adds experience to its capital raising

The Fort Worth, Texas-based firm has hired a new face with experience in fundraising around the world as it looks to round up commitments for an opportunistic fund.

Crestline Investors announced it has added a new head of business development and client relations, Frank Jordan, who spent a decade at GoldenTree Asset Management. During his time at GoldenTree, the firm grew from slightly more than $1 billion in assets under management to above $15 billion.

While at his previous firm, Jordan trotted around the globe raising capital from a number of regions, including the US, Europe and Australia as well as in Asia – Singapore, Hong Kong, Korea – and the Middle East. The types of investors that committed were quite diverse, ranging from fund of funds to sovereign funds.

Jordan could prove to be an immediate boon to Crestline, as the firm is currently in the market with its Crestline Opportunity Fund III. The vehicle carries a $1.3 billion target, for which it announced a second close on $720 million in June. The fund will invest in small and mid-sized companies in North America along with asset-backed securities.

“Frank has a proven history of delivering the highest quality investment products to his institutional clients and relationships,” Douglas Bratton, the chief investment officer and a managing partner, said in a statement.

Jordan previously spent time at the Bleachers Corporation, a company that arranges on-demand video streaming for schools, parents and students, and Wasserstein Perella as well as Citibank and Salomon Brothers. He will be based in Fort Worth, Texas.