Crescent Private Credit Income CFO resigns; second exit since August

Kirill Bouek resigned as CFO of Crescent Private Credit Income Corp. effective Oct. 7, the second senior officer departure at the nontraded business development company in about two months, AltsWire reported Tuesday. The fund reported $590.5 million in aggregate net asset value as of Aug. 31 and is raising capital through a $3 billion continuous public offering.

The board appointed Gerhard Lombard interim CFO the same day. Lombard, 53, is CFO of Crescent Capital Group, the parent of the fund's adviser, and of Crescent Capital BDC, a BDC managed by an affiliate of that adviser; before joining Crescent in 2016 he was CFO and treasurer of WhiteHorse Finance, a publicly traded BDC managed by H.I.G. Capital. The fund said Bouek's decision was not the result of any disagreement with management or the board and was not related to the fund's operations, policies or practices. The change follows Raymond Barrios's resignation as president effective Aug. 10, with chief executive Eric Hall taking that role; the fund said that departure also was not the result of any disagreement.

For allocators, the interim appointment puts the CFO title at the fund, at Crescent Capital BDC and at their common parent in one executive. Both BDCs are among the four vehicles named in Crescent's pending co-investment application, so the same CFO sits over entities whose transactions with one another the requested order would govern. Lombard's appointment is interim; whether the board makes it permanent is the open item for investors assessing how the fund's capital is committed alongside affiliates.

Crescent filed a third amendment Tuesday to its pending application for SEC permission to co-invest across its funds. The amendment adds Remora Capital Corp., a Nashville-based private BDC that Crescent Capital Group sub-advises, as a regulated fund under the proposed order. The application, first filed in August 2025, names Crescent Capital BDC, Crescent Private Credit Income Corp., CCS IX Portfolio Holdings and Remora. It also covers more than 200 Crescent-affiliated private funds, collateralized loan obligations and Sun Life Financial entities; Crescent Capital Group is an indirect, wholly owned subsidiary of Sun Life Financial Inc. If granted, the order would replace Crescent's 2016 co-investment order.

Remora reported $267.6 million in total assets as of June 30 and mainly buys loan assets through co-investment programs with loan originators or their affiliates, according to Crescent. Its addition brings a sub-advised BDC into the same relief as the two BDCs managed by the adviser's affiliates. The application remains pending.