Crestline Nets $1.7B For Two Funds

Apr 1 2014 | 1:40pm ET

Crestline Investors has raised $1.7 billion for two new funds of hedge funds.

Crestline Opportunity Fund II netted $980 million in commitments, while its Recovery Fund III won $738 million. The former will invest in private credit strategies, while the latter will buy up secondary interests in hedge funds.

Several public pension funds committed to the Opportunity Fund, including the Arizona Public Safety Personnel Retirement System and California’s San Joaquin County Employees’ Retirement Association.

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