CEO Michael Arougheti expects more institutional credit portfolios to come to market over the next two years as investors reposition their holdings.
The New York-based manager is also planning a successor to its GP-led secondaries fund in 2027 and is targeting an H1 first close for its debut credit secondaries offering.
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.
SecondaryLink first reported on the Euronext-listed manager's plans to launch credit & infrastructure secondaries products in July.
The GP-led deal included senior secured loans to more than 60 US lower-middle-market companies from two Tree Line direct lending funds.
The transaction extends the manager's hold on a portfolio of predominantly senior, US-focused direct lending investments.
