Crestline Management, L.P. is an SEC-registered investment adviser based in Fort Worth, TX that reports managing 30 hedge funds on Form ADV. It reports $22.5 billion in regulatory assets under management. Its private funds, of all types, hold $12.6 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated +46.6% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated +85.0% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $22.5 billionForm ADV Item 5.F
- Gross assets of private funds
- $12.6 billionAll private fund types, Form ADV
- Hedge funds managed
- 3037 private funds in total
- Employees
- 195Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 122711
- Latest Form ADV
- 08/28/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
Est. 2026 YTD+46.6%Through Q2 2026 · S&P 500 +9.5%
Est. 2-year return+85.0%Q3 2024 – Q2 2026
S&P 500+37.2%Same quarters, price only
13F holdings$53.5 million3 positions, 2026-06-30
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +32.3% | +14.8% |
| Q1 2026 | +10.9% | -4.6% |
| Q4 2025 | +13.1% | +2.4% |
| Q3 2025 | +6.7% | +7.8% |
| Q2 2025 | +7.2% | +10.4% |
| Q1 2025 | -6.5% | -4.5% |
| Q4 2024 | -1.7% | +2.1% |
| Q3 2024 | +6.2% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- Denali Therapeutics Inc$49.1 million
- Sana Biotechnology Inc$2.6 million
- 8X8 Inc New$1.7 million
As of 2026-06-30, from 13F filing by Crestline Management, L.P..
Private funds reported on Form ADV (46)
Fund
Gross assets
Minimum
Owners
Adviser
Crestline Summit Master, SPC - Peak SP
Cayman IslandsHedge fund
Gross assets$3.2B
Minimum$250K
Owners51
AdviserCrestline Management, L.P.
Crestline Summit Pinnacle Master, L.P.
Cayman IslandsHedge fund
Gross assets$2.0B
Minimum$250K
Owners16
AdviserCrestline Management, L.P.
Crestline Opportunity Fund V Master Fund, L.P.
Cayman IslandsHedge fund
Gross assets$1.8B
Minimum$5.0M
Owners253
AdviserCrestline Management, L.P.
Crestline Summit Master, SPC - Apex SP
Cayman IslandsHedge fund
Gross assets$1.8B
Minimum$250K
Owners5
AdviserCrestline Management, L.P.
Crestline Specialty Lending III, L.P.
Cayman IslandsHedge fund
Gross assets$1.7B
Minimum$5.0M
Owners94
AdviserCrestline Management, L.P.
Crestline Opportunity Fund IV Master Fund, L.P.
Cayman IslandsHedge fund
Gross assets$1.3B
Minimum$5.0M
Owners187
AdviserCrestline Management, L.P.
Crestline Specialty Lending II, L.P.
Cayman IslandsHedge fund
Gross assets$860M
Minimum$5.0M
Owners81
AdviserCrestline Management, L.P.
Crestline Portfolio Financing Fund II, L.P.
Cayman IslandsHedge fund
Gross assets$593M
Minimum$5.0M
Owners96
AdviserCrestline Management, L.P.
Crestline Pf Sentry Fund, Scsp
LuxembourgHedge fund
Gross assets$584M
Minimum$5.0M
Owners6
AdviserCrestline Management, L.P.
Crestline Structured Note Issuer I LLC
Delaware, United StatesHedge fund
Gross assets$500M
MinimumNone set
Owners2
AdviserCrestline Management, L.P.
Crestline Direct Lending IV, Scsp
LuxembourgHedge fund
Gross assets$461M
Minimum$5.0M
Owners15
AdviserCrestline Management, L.P.
Crestline Opportunity Fund III (Ireland), Dac
IrelandHedge fund
Gross assets$405M
Minimum$5.0M
Owners101
AdviserCrestline Management, L.P.
Crestline Opportunity Fund III (Europe) Master Fund D Scsp
LuxembourgHedge fund
Gross assets$363M
Minimum$5.0M
Owners81
AdviserCrestline Management, L.P.
Crestline Direct Lending Ul Master Fund, Scsp
LuxembourgHedge fund
Gross assets$340M
Minimum$5.0M
Owners19
AdviserCrestline Management, L.P.
Crestline Portfolio Financing Fund, L.P.
Cayman IslandsHedge fund
Gross assets$297M
Minimum$5.0M
Owners104
AdviserCrestline Management, L.P.
Crestline Maple Operating Trust
CanadaHedge fund
Gross assets$278M
MinimumNone set
Owners3
AdviserCrestline Management, L.P.
Crestline Stepstone Opportunistic Credit Master Fund I, L.P.
Cayman IslandsHedge fund
Gross assets$186M
MinimumNone set
Owners10
AdviserCrestline Management, L.P.
Crestline Lending Solutions Ramp, LLC
Delaware, United StatesHedge fund
Gross assets$162M
MinimumNone set
Owners30
AdviserCrestline Management, L.P.
Crestline Sundance Fund, L.P.
Delaware, United StatesHedge fund
Gross assets$125M
Minimum$5.0M
Owners3
AdviserCrestline Management, L.P.
CL Commonwealth, Inc.
Puerto Rico, United StatesPrivate fund
Gross assets$102M
Minimum$790K
Owners13
AdviserCrestline Management, L.P.
CL Trading, L.P.
Cayman IslandsPrivate fund
Gross assets$97.7M
Minimum$740K
Owners8
AdviserCrestline Management, L.P.
Crestline Opportunity Fund Offshore Sma Mini-Master, L.P.
Cayman IslandsHedge fund
Gross assets$96.5M
MinimumNone set
Owners2
AdviserCrestline Management, L.P.
CL Green Park, L.P.
Delaware, United StatesHedge fund
Gross assets$80.3M
MinimumNone set
Owners4
AdviserCrestline Management, L.P.
CL Nevermore, L.P.
Cayman IslandsHedge fund
Gross assets$66.2M
MinimumNone set
Owners4
AdviserCrestline Management, L.P.
Crestline Opportunity Fund II, L.P. - Class C
Delaware, United StatesHedge fund
Gross assets$61.3M
Minimum$5.0M
Owners4
AdviserCrestline Management, L.P.
CL Opportunity II Trading Fund, L.P. - Class B
Cayman IslandsHedge fund
Gross assets$38.2M
Minimum$5.0M
Owners5
AdviserCrestline Management, L.P.
CL Recovery Trading Fund III, L.P.
Cayman IslandsHedge fund
Gross assets$34.8M
Minimum$5.0M
Owners16
AdviserCrestline Management, L.P.
Crestline Opportunity Fund II, L.P. - Class a
Delaware, United StatesHedge fund
Gross assets$34.6M
Minimum$5.0M
Owners9
AdviserCrestline Management, L.P.
Crestline Praeter, L.P. - Oranje
Delaware, United StatesPrivate equity fund
Gross assets$31.3M
MinimumNone set
Owners13
AdviserCrestline Management, L.P.
CL Gas, L.P.
Cayman IslandsHedge fund
Gross assets$28.9M
MinimumNone set
Owners13
AdviserCrestline Management, L.P.
Crestline Praeter, L.P. - Harper
Delaware, United StatesPrivate equity fund
Gross assets$25.3M
MinimumNone set
Owners41
AdviserCrestline Management, L.P.
Crestline Opportunity Fund Sma, L.P.
Delaware, United StatesHedge fund
Gross assets$23.2M
MinimumNone set
Owners3
AdviserCrestline Management, L.P.
Dynamite, L.P.
Cayman IslandsPrivate fund
Gross assets$20.0M
MinimumNone set
Owners7
AdviserCrestline Management, L.P.
CL Opportunity II Trading Fund, L.P. - Class a
Cayman IslandsHedge fund
Gross assets$19.2M
Minimum$5.0M
Owners3
AdviserCrestline Management, L.P.
CL Opportunity II Trading Fund, L.P. - Class D
Cayman IslandsHedge fund
Gross assets$13.2M
Minimum$5.0M
Owners5
AdviserCrestline Management, L.P.
Crestline Praeter, L.P. - Zoom
Delaware, United StatesPrivate equity fund
Gross assets$11.9M
MinimumNone set
Owners3
AdviserCrestline Management, L.P.
Crestline Menlo Fund, L.P.
Delaware, United StatesHedge fund
Gross assets$10.4M
MinimumNone set
Owners3
AdviserCrestline Management, L.P.
Crestline Recovery Fund III, L.P.
Delaware, United StatesHedge fund
Gross assets$2.0M
Minimum$5.0M
Owners6
AdviserCrestline Management, L.P.
Crestline Recovery Fund II, L.P.
Delaware, United StatesHedge fund
Gross assets$1.6M
Minimum$5.0M
Owners25
AdviserCrestline Management, L.P.
Trent River Offshore Limited - Class R1
Cayman IslandsPrivate fund
Gross assets$1.6M
MinimumNone set
Owners16
AdviserCrestline Management, L.P.
Freedom Participation Partners I, LLC
Delaware, United StatesHedge fund
Gross assets$1.4M
MinimumNone set
Owners4
AdviserCrestline Management, L.P.
C.L. - Ascent, L.P.
Cayman IslandsPrivate equity fund
Gross assets$839K
MinimumNone set
Owners13
AdviserCrestline Management, L.P.
Crestline Offshore Menlo Fund, L.P.
Cayman IslandsHedge fund
Gross assets$518K
MinimumNone set
Owners3
AdviserCrestline Management, L.P.
Crestline Praeter, L.P. - Fulcrum 2
Delaware, United StatesPrivate equity fund
Gross assets$400K
MinimumNone set
Owners31
AdviserCrestline Management, L.P.
CL Opportunity II Trading Fund, L.P. - Class C
Cayman IslandsHedge fund
Gross assets$267K
Minimum$5.0M
Owners2
AdviserCrestline Management, L.P.
Crestline Praeter, L.P. - Fulcrum
Delaware, United StatesPrivate equity fund
Gross assets$19K
MinimumNone set
Owners27
AdviserCrestline Management, L.P.
As reported in the adviser's Form ADV filed Nov 27, 2024. Funds also listed from Form D are shown above.
Fund vehicles: feeder funds and single-deal vehicles (3)
Fund
Gross assets
Minimum
Owners
Adviser
CL Levi Co-Invest, L.P.
Cayman IslandsHedge fund
Gross assets$153M
MinimumNone set
Owners20
AdviserCrestline Management, L.P.
CL Oliver Co-Invest I, L.P.
Delaware, United StatesHedge fund
Gross assets$39.7M
MinimumNone set
Owners13
AdviserCrestline Management, L.P.
CL Oliver Co-Invest II, L.P.
Delaware, United StatesHedge fund
Gross assets$30.3M
MinimumNone set
Owners8
AdviserCrestline Management, L.P.
Feeder funds invest through a master fund; single-deal vehicles (SPVs, co-investments, series) hold one investment.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures