Company: FCRX
Filing Date: 2025-08-19
Form Type: 40-APP
Source: 0001341004-25-000071
Chunk: 13

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-08-19
Form: 40-APP
Chunk 13
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 majority of members who are not “interested persons” of such Future Regulated Fund within the meaning of Section 2(a)(19) of the Act. |

8 portfolio companies as required. Crescent Cap Advisors’ services under the investment advisory agreement may not be exclusive, and it is free to furnish similar services to other entities so long as its services to Crescent Capital BDC are not impaired. Crescent Cap NT Advisorsis a Delaware limited liability company and is registered with the Commission under the Advisers Act. On the date of this Application, its sole client is Crescent Private Credit BDC. Crescent Cap NT Advisors is a majority-owned subsidiary and an affiliate of Crescent Group, which, together, provide innovative alternative investment products to individual and institutional investors through publicly-registered programs, private funds and separately managed accounts. Under the terms of the investment advisory agreement with Crescent Private Credit BDC, Crescent Cap NT Advisors will: (i) determine the composition of the portfolio of Crescent Private Credit BDC, the nature and timing of the changes therein and the manner of implementing such changes; (ii) identify/source, research, evaluate and negotiate the structure of the investments made by Crescent Private Credit BDC; (iii) close and monitor Crescent Private Credit BDC’s investments; (iv) determine the assets that Crescent Private Credit BDC will originate, purchase, retain, or sell; (v) perform due diligence on prospective portfolio companies; and (vi) provide Crescent Private Credit BDC with such other investment advisory, research and related services as Crescent Private Credit BDC may, from time to time, reasonably require for the investment of its funds, including providing operating and managerial assistance to Crescent Private Credit BDC and its portfolio companies as required. Crescent Cap NT Advisors’ services under the investment advisory agreement may not be exclusive, and it is free to furnish similar services to other entities so long as its services to Crescent Private Credit BDC are not impaired. CPCP Management, a limited liability company organized under the Delaware Limited Liability Company Act on July 18, 2018, is a wholly-owned subsidiary and relying adviser of Crescent Group. CDL Management, a Delaware limited liability company formed on March 31, 2014, is a wholly-owned subsidiary of Crescent Group and is a registered investment adviser under the Advisers Act. CDL Management serves as an investment adviser to certain clients with a focus on investments primarily in senior secured loans (including first lien, unitranche and second lien loans) of private U.S. lower-middle-market companies. CDL SMA Management,