The secondary sale reportedly involves loan positions tied to one of the firm's interval funds.
The firm's flagship Cox Retail Secondaries Fund I is offering to purchase up to $2.5 million of Variant Alternative Income Fund shares at a 40% discount to October 26 NAV.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The unsolicited bid comes just three days after Blue Owl Credit Income Corp. disclosed 16.8% in Q3 redemption requests.
Cox Capital Retail Secondaries Fund I is seeking up to $40 million of BCRED and HLEND at discounts to NAV of 12.5% and 17.5%, respectively.
We examine the Q2 capital flows, investment activity, and performance of the secondaries-focused interval fund, leveraging EvergreenLink Data.
The recently registered interval fund, sub-advised by Barings, will target private asset-based credit investments through direct and secondary transactions.
The Philadelphia-based investment manager has expanded its recurring liquidity program to now include five non-traded BDCs.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
We examine the Q4 capital flows, investment activity, and performance of the secondaries-focused interval fund, leveraging EvergreenLink Data.
