What Crayhill Capital Management does

Crayhill Capital Management is a New York-based, SEC-registered alternative asset management firm founded in July 2015 by Joshua Eaton and Carlos Mendez, both formerly of Magnetar Capital and Sandler O'Neill & Partners. The firm specializes exclusively in asset-based finance and manages approximately $2.9-3 billion in assets under management, having deployed over $4 billion across more than 50 transactions since inception. Its third flagship fund closed in April 2025 at over $1.3 billion, up from $820 million for its second fund in 2021.

The firm operates a unified private credit platform organized into five investment strategies: Commercial Finance (receivables factoring, supply chain financing, BNPL, commodity inventory financing across 74+ countries); Power & Infrastructure (pre-construction and development capital for solar, battery, and wind projects, including the Tax Equity Bridge Lending program); Real Estate (homebuilder finance, transitional CRE lending, residential mortgages, NPLs, NNN leases, 1031 market); Technology, Media & Telecom (music catalogs, film/TV libraries, broadcast rights, digital content); and Credit Risk Transfer (regulatory capital relief solutions for banks and credit unions). Its proprietary technology stack centers on a quantitative asset evaluation framework for stress-testing pools of loans, leases and receivables, with specialized underwriting models for non-standard collateral such as music royalty depreciation curves and tax equity step-up structures.

Crayhill's revenue model is built on management fees and performance fees earned on committed institutional capital. Capital is raised directly from pension plans, insurance companies, and foundations through relationship-based sales, and deployed via bespoke structured credit facilities to asset originators, servicers, developers, and owners. The firm partners with co-developers such as Monarch Private Capital and Exelon Power Services, holds portfolio companies such as Sunraycer Renewables, and distributes through direct institutional sales rather than intermediaries, with team expansion led by recent senior hires including a Managing Director and Head of Marketing and Investor Relations.

Name

Crayhill Capital Management

Legal name

Crayhill Capital Management LP

Website

https://crayhill.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Crayhill Capital Management is a New York-based, SEC-registered alternative asset manager specializing in asset-based finance across five verticals — commercial finance, power and infrastructure, real estate, TMT, and credit risk transfer — for institutional investors including pensions, insurers, and foundations.

Ownership category

akta.pro rank

Product category

Alternative Asset Management (Asset-Based Finance)

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Real Estate Private Credit (CRE Debt) (FSANADAG)

akta.pro secondary industries

Credit Risk Transfer (CRT) & Mortgage Credit Securities (CAS/STACR/ACIS) (FSALAFAH), Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD), Balance-Sheet / Portfolio CRE Lending (FSALADAG)

Keywords

• Asset-based finance
• Alternative asset management
• Structured credit investments
• Specialty finance solutions
• Private credit funds

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset-Based Finance Investment Management: Crayhill generates revenue through managing alternative investment funds focused on asset-based finance. The firm deploys capital across structured credit, specialty finance, and specialty finance platforms, earning management fees and performance fees from institutional investors including pension plans, insurance companies, and foundations.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Crayhill Capital Management is an SEC-registered alternative asset management firm that manages opportunistic funds providing asset-based financing solutions. The firm deploys capital across five core strategies — Commercial Finance, Power & Infrastructure, Real Estate, Technology Media & Telecom (TMT), and Credit Risk Transfer — to institutional investors and asset originators. Products include pre-construction financing, development capital, warehouse facilities, senior secured loans, tax equity bridge lending, and risk transfer transactions.

Product overview

Crayhill Capital Management is a $3 billion, SEC-registered investment advisor specializing in asset-based finance. The firm operates as a unified asset-based private credit platform offering five core investment strategies: Commercial Finance (receivables factoring, supply chain financing, BNPL), Power & Infrastructure (renewable energy project financing including Tax Equity Bridge Lending), Real Estate (homebuilder finance, bridge lending, home equity, NPLs), Technology Media & Telecom/TMT (music catalogs, film/TV, broadcast rights, digital content), and Credit Risk Transfer (bank regulatory capital solutions). The flagship fund series represents the firm's committed capital vehicles. These strategies are offered through tailored financing structures with deep sector expertise, enabling investors to build differentiated portfolios backed by diversified pools of assets and cash flows.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Finance Strategy

Quantifiable outcome

• $4 billion+ deployed across 50+ transactions since 2015
• +2 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and significant.

• Monarch Private CapitalcoreStrategic or Co-development Partner · 9 January 2026Crayhill and Monarch Private Capital launched Monarch JVT Funding to provide $300 million for tax credit transfer partnerships, facilitating hybrid preferred tax equity investments for renewable energy projects including utility-scale solar.
• GooglecoreOthersGoogle has signed long-term Power Purchase Agreements with Sunraycer Renewables for the Lupinus projects in Texas, a portfolio company of Crayhill Capital Management.
• Exelon Power ServicessignificantStrategic or Co-development PartnerCrayhill Renewables and Exelon Power Services launched a generation management and developer financial services platform combining project financing and generation management.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Marathon Asset Management: Multi-strategy alternatives manager with a deep asset-based and structured credit franchise, including commercial finance, real estate, and specialty strategies. Highly comparable to Crayhill in business model, AUM scale ($30B+ range vs. Crayhill's $3B), and vertical structure, with longer track record.
• HPS Investment Partners: Large specialty private credit manager (~$100B+ AUM) with multi-strategy direct lending, asset-based finance, and structured credit capabilities. Closest scaled analog to Crayhill's strategy set, though materially larger; recent BlackRock stake validates the asset-based credit thesis.
• Sixth Street Partners: Multi-strategy private credit and alternatives manager with direct lending, specialty finance, and asset-based capabilities across real estate, infrastructure, and credit. Comparable to Crayhill in strategy breadth and institutional LP base, though operating at significantly greater scale.
• Castlelake: Specialty finance and asset-based credit manager focused on aviation, real estate, specialty finance, and opportunistic credit. Comparable to Crayhill's specialty-finance orientation and asset-based underwriting approach, with similar multi-vertical structure.
• Sound Point Capital Management: Structured credit and asset-based credit manager with CLO, opportunistic credit, and specialty finance strategies. Directly comparable to Crayhill in structured credit orientation and senior team pedigree from structured finance backgrounds.
• Pretium Partners: Specialty finance platform focused on residential credit, NPLs, and asset-based lending to single-family rental and housing finance sectors. Comparable to Crayhill's Real Estate vertical in its focus on non-bank specialty credit and bespoke asset-based financing solutions.
• Magnetar Capital: Multi-strategy alternative asset manager with structured credit, fixed income, and energy/renewables strategies. Crayhill co-founders Eaton and Mendez were both portfolio managers at Magnetar prior to 2015, making it the most direct heritage comparable and a peer in the structured credit and renewable energy verticals.

Broad incumbents

• Ares Management: One of the largest publicly traded alternative asset managers with a $400B+ franchise spanning credit, private equity, real estate, and infrastructure. Competes with Crayhill across direct lending and specialty credit, but at vastly greater scale and as part of a multi-strategy platform rather than a specialty pure-play.
• KKR Credit: Global alternatives giant with a major private credit franchise spanning direct lending, asset-based finance, and opportunistic credit. Comparable to Crayhill in asset-based credit focus but operates at institutional scale, with broader LP relationships and product set.
• Blue Owl Capital (Owl Rock Credit): Public alternative asset manager with a major direct lending and private credit platform. Competes with Crayhill for institutional credit allocations and direct lending mandates, particularly in middle-market and specialty finance segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/crayhill

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments22 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Crayhill Capital Management