Fidelity National Financial Inc. purchased 4,205,307 shares of Crescent Capital BDC (CCAP) during the second quarter. The new position is valued at approximately $45.92 million according to a recent SEC filing.
This acquisition grants Fidelity National Financial an 11.41% ownership stake in the business development company. The holding accounts for roughly 1.5% of the institutional investor's total portfolio.
Crescent Capital now ranks as the firm's third-largest single stock position. The significant entry signals strong institutional conviction in the business development company.