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News Mar 12, 2019

Crescent Acquisition Corp’s $250 Million Initial Public Offering

Shearman & Sterling advised Credit Suisse and Bank of America Merrill Lynch as joint book-running managers on the $250 million initial public offering of Crescent Acquisition Corp, a special-purpose acquisition company, of 25 million units at an offering price of $10.00 per unit, each unit consisting of one share of Class A common stock and one-half of one redeemable warrant.

The company is ultimately controlled by Crescent Capital LP, an alternative asset manager with $24 billion of assets under management, headquartered in Los Angeles with offices in New York, Boston and London. Founded in 1991, Crescent Capital LP has invested alongside leading private equity firms and world class management teams and has over 600 institutional investors currently, including well-known sovereign wealth funds, insurance companies and pension plans.

The Team