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Crestline Management

SEC-registered adviser since 2002Fort Worth, TXCRD 122711

$22.5B
AUM
131
Clients
See fees
Fee
113
Advisory staff

From Form ADV filed 28 August 2026 · data retrieved 15 October 2026SEC record

Crestline Management is an investment adviser headquartered in Fort Worth, Texas, and registered with the SEC since 2002. Its clients include pooled investment vehicles, pension and profit-sharing plans, and insurance companies.

Its services include portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. Fee arrangements include a percentage of assets under management, performance-based fees and other arrangements. Rithm Crestline Holdings LLC owns 75% or more of Crestline Management.

Clients

Crestline Management serves 131 clients, 100 of them pooled investment vehicles. The average client has about $172 million with the firm.

Regulatory assets by client type
  • Business development companies1 clients2%
  • Pooled investment vehicles100 clients56%
  • Pension and profit-sharing plans9 clients22%
  • State or municipal government entities4%
  • Insurance companies5 clients12%
  • OtherSovereign wealth funds and foreign official institutions, Other investment advisers, Corporations and other businesses5%
Show client breakdown
Business development companies
Clients
1
Regulatory AUM
$549,604,051
Share
2.4%
Avg. per client
$549.6M
Pooled investment vehicles
Clients
100
Regulatory AUM
$12,586,340,566
Share
55.9%
Avg. per client
$125.9M
Pension and profit-sharing plans
Clients
9
Regulatory AUM
$4,844,929,579
Share
21.5%
Avg. per client
$538.3M
State or municipal government entities
Clients
Not reported
Regulatory AUM
$800,488,369
Share
3.6%
Avg. per client
—
Other investment advisers
Clients
Not reported
Regulatory AUM
$131,829,295
Share
0.6%
Avg. per client
—
Insurance companies
Clients
5
Regulatory AUM
$2,614,408,804
Share
11.6%
Avg. per client
$522.9M
Sovereign wealth funds and foreign official institutions
Clients
16
Regulatory AUM
$884,622,731
Share
3.9%
Avg. per client
$55.3M
Corporations and other businesses
Clients
Not reported
Regulatory AUM
$97,735,501
Share
0.4%
Avg. per client
—

Total

Clients
131
Regulatory AUM
$22,509,958,896
Share
100%
Avg. per client
$171.8M

What it does

Crestline Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets, performance-based fees and other arrangements.

Crestline Management advises 37 private funds.

100.0% of assets ($22.51B across 135 accounts) are managed with discretion. 56% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

The filed percentages total 101%. The values below are shown as filed.

Exchange-traded equity securities
1%
Non-exchange-traded equity securities
11%
U.S. government/agency bonds
1%
Sovereign bonds
26%
Investment grade corporate bonds
6%
Derivatives
1%
Securities issued by pooled investment vehicles (other than registered investment companies)
19%
Cash and cash equivalents
6%
Other (Directly-Originated (or Syndicated Loans Or Loans Acquired in Market Transactions) Middle Market Loans, Accounts Receivable and Interest Receivable)
30%

Custodians

Crestline Management has custody of $14.30B for 96 clients.

Managed account assets by custodian
  • All other custodians$22.51B100%

Ownership and leadership

Rithm Crestline Holdings LLC owns 75% or more of Crestline Management.

Who owns the firm
Crestline Management, L.P.· the adviser

  • Rithm Crestline Holdings LLC

    Control person · since December 2025

    Owns 75% or more of Crestline Management, L.P.

Leadership

  • Camille Sassman
    Chief Financial Officer
  • Paula Roberts
    Chief Compliance Officer
  • John Cochran
    Chief Operations Officer
  • Jesus Payan
    Chief Legal Officer
  • Keith Williams
    Chief Investment Officer

Staff

  • 195 employees
  • 113 in advisory functions
  • 3 insurance agents
  • 8 soliciting firms

Reported holdings

Crestline Management’s reported 13F holdings total $53.5M across 3 positions, and the ten largest make up 100.0% of it.

$53.5M
Reported 13F value
3
Positions
100.0%
In the 10 largest
+15.6%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Denali Therapeutics Inc.91.9%
  2. Sana Biotechnology Inc.4.9%
  3. 8x8 Inc. New3.2%

Together, the ten largest are 100.0% of reported value.

The 3 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $53.5M is not its $22.51B in regulatory assets and does not represent any individual client's portfolio.

Fees

Crestline Management is paid through a percentage of assets under management, performance-based fees and other.

Crestline Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Crestline Management has 3 offices, with 3 listed addresses across 2 states.

Listed office addresses by state

Texas · 2 listed addresses

  • 201 Main Street, Suite 2100, Fort WorthHQ
  • 4001 Maple Ave, Dallas

Other business names

Crestline Management has reported 3 other business names to the SEC.

  • Crestline Asia Sub, L.P.
  • Crestline Canada Sub, L.P. - Relying Adviser
  • Crestline Research Associates Sub, L.P.

Registration details

Legal name
Crestline Management, L.P.
Headquarters
201 Main Street, Suite 2100, Fort Worth, TX 76102-3135
Phone
817-339-7600
Website
Not reported
SEC file
801-61607
Structure
Delaware limited partnership
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Crestline Management have?

Crestline Management has 131 clients and manages $22.5 billion for them, as of August 2026. They include 100 pooled investment vehicles, 16 sovereign wealth funds and foreign official institutions and 9 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 August 2026

What services does Crestline Management offer?

Crestline Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does Crestline Management have?

Crestline Management has 0 investment adviser representatives registered with state securities authorities, out of 195 employees, and 113 perform investment advisory functions. 0 are registered representatives of a broker-dealer and 3 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Crestline Management invest in?

At the end of its last fiscal year, Crestline Management’s separately managed accounts held 30% directly-originated (or syndicated loans or loans acquired in market transactions) middle market loans, accounts receivable and interest receivable, 26% sovereign bonds, 19% pooled vehicles (private funds and similar), 11% non-exchange-traded equities, 6% investment grade corporate bonds, 6% cash and equivalents, 1% exchange-traded equities, 1% U.S. government and agency bonds and 1% derivatives. It advises 37 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Crestline Management?

Crestline Management is owned through a chain of holding companies by Rithm Capital Corp. Its direct owner is Rithm Crestline Holdings LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 28 August 2026

How does Crestline Management get paid?

Crestline Management is paid through a percentage of assets under management, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 28 August 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 122711.
  3. Form 13F-HR, filed 14 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Crestline Management, L.P. and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.