Crescent Capital BDC, Inc. Announces Resignation of John S. Bowman as Chairman of the Board
January 06, 2021 at 05:00 pm IST
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On January 5, 2021, Crescent Capital Group LP (“Crescent”) announced that Crescent and Sun Life Financial Inc. (together with its subsidiaries and joint ventures, “Sun Life”) consummated the previously announced transaction, whereby Sun Life acquired a majority interest in Crescent (the “Transaction”). Consummation of the Transaction resulted in Sun Life acquiring a majority indirect ownership interest in Crescent Capital Advisors, LLC (the “Advisor”), the investment advisor of Crescent Capital BDC, Inc. (the “Company”). In connection with the consummation of the Transaction and in order to ensure that the Transaction complies with Section 15(f) of the 1940 Act, including the requirement that at least 75% of the members of the Company’s Board of Directors (the “Board”) not be “interested persons” (as defined in the 1940 Act) of the Company, on January 5, 2021, John S. Bowman, the Chairman of the Board resigned from the Board, effective immediately. He will remain a member of the Advisor’s investment committee.
Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The Companyâs investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. It invests primarily in secured debt, including first lien, unitranche first lien and second-lien debt, and unsecured debt, including mezzanine and subordinated debt, as well as related equity securities of private United States middle-market companies. It is focused on purchasing interests in loans or make debt investments, either directly from its target companies as primary market or private credit investments (private credit transactions), or primary or secondary market bank loan or high yield transactions in the syndicated market (syndicated loans and bonds). Although its focus is to invest in less liquid private credit transactions. The Company is managed by Crescent Cap Advisors, LLC.
CRESCENT CAPITAL BDC, INC. 
