Family Office Spinout With $10 Billion Builds Private Credit Team
Cercano Management, formerly part of the late Microsoft billionaire Paul Allen’s family office, is adding staff as its ramps up direct-lending efforts.
Paul Allen in a 2012 photo.
Photographer: Scott Eells/Bloomberg
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An investment firm that was once part of Microsoft Corp. co-founder Paul Allen’s family office is targeting private credit as it looks to expand globally.
Cercano Management sees direct lending as its biggest growth area this year and plans to hire three people to help in the effort, according to a person with knowledge of the matter. The firm, formerly known as Vulcan Capital, was spun out of the late billionaire's family office in late 2021 as a standalone business catering to the world’s super-rich.