CPCI seeks a diversified portfolio of middle market senior secured terms loans and high-quality public investments, and it will also strategically invest in high-quality public investments to enhance the potential for total return and augment liquidity.

A Diversified Portfolio of Credit Opportunities

CPCI will primarily invest in private credit opportunities, and it will also strategically invest in high-quality public investments to enhance the potential for total return and augment liquidity.

Liquid Credit

Primarily broadly syndicated loans with a focus on strong liquidity characteristics


Publicly traded securities of large corporate issuers, investments in joint ventures and other opportunities

Private Credit

Primarily sponsor-backed, first-lien senior secured loans to U.S. companies. Focus on non-cyclical industries with high free cash flow generation. Complemented with second lien, unsecured and mezzanine debt and related equity; other private investments

Beneficial Structure Designed to Meet the Needs of Income-Focused Investors

Targeted Monthly Distributions(1)

CPCI intends to distribute over 90% of annual net investment income

Monthly distributions are at the discretion of the Board of Trustees and not guaranteed

Targeted Quarterly Liquidity(2)

CPCI intends to offer to repurchase up to 5% of outstanding shares each quarter

NAV-Based Guidepost

Private structure removes the potential for public equity volatility

Attractive Relative Fees

Lower than most publicly listed BDCs(3)

Tax Efficiency

Generally no corporate-level taxes on CPCI's distributed income(4)

Simplified Tax Reporting

CPCI will report via a Form 1099 (or equivalent)

Key Terms

Key Terms
Structure Non-traded business development company (BDC) that is perpetually offered
Investment Adviser Crescent Cap NT Advisors, LLC, an affiliate of Crescent
Maximum Offering $2.5 billion
Subscriptions Monthly at NAV (fully funded)
Distributions(1) Monthly
Expected Liquidity(2)
  • Quarterly repurchases at NAV as of each quarter end
  • Quarterly repurchases are limited to 5.0% of aggregate shares outstanding (either by number of shares or aggregate NAV) as of the close of the previous calendar quarter
  • Shares not held for at least one year will be subject to a 2.0% early repurchase deduction
  • The Board of Trustees may amend, suspend or terminate these share repurchases or waive the early repurchase deduction in its discretion
Fund Leverage(5) Target 1.0x - 1.25x debt to equity, with regulatory cap of 2.0x
Management Fee 1.25% per annum on NAV paid monthly
Incentive Fee
  • 12.5% of income, subject to a 5% hurdle rate with a catch-up, paid quarterly
  • 12.5% of realized capital gains net of realized and unrealized losses, paid annually
Tax Reporting Form 1099-DIV(6)
Initial Minimum Investment(7) $2,500 for Class S and D shares; $1,000,000 for Class I shares
Investor Eligibility(8) Either (1) a net worth of at least $250,000 or (2) a gross annual income of at least $70,000 and a net worth of at least $70,000. Certain states have additional suitability standards. See prospectus for more information.

Share Class-Specific Fees

Share Class-Specific Fees table
Fee Type Class S Class D Class I
Upfront Placement Fee(9) Up to 3.5% Up to 1.5% None
Ongoing Service Fee 0.85% of net asset value (annualized) 0.25% of net asset value (annualized) None

This information is summary in nature and is in no way complete, and these terms have been simplified for illustrative purposes and may change materially at any time without notice. In particular, this information omits certain important details about the stated terms and does not address certain other key Fund terms or risks or represent a complete list of all CPCI terms. If you express an interest in investing in CPCI, you will be provided with a prospectus, subscription agreement, and other documents (“Fund Documents”), which shall govern in the event of any conflict with the general terms listed herein. You must rely only on the information contained in the Fund Documents in making any decision to invest. Please see prospectus for corresponding terms.