Eagle Point Institutional Income Fund Declares First Monthly Distribution
Eagle Point Institutional Income Fund, a non-traded closed-end fund, has declared its first monthly distribution.
Eagle Point Institutional Income Fund, a newly launched non-traded closed-end fund, has declared its first monthly distribution of $0.074 per share of common equity to shareholders of record as of July 28, 2022.
Eagle Point Institutional Income Fund is sponsored by Eagle Point Credit Management LLC, a specialist credit asset manager with approximately $7.2 billion of assets under management. The fund recently released its semi-annual report for the period from June 1, 2022 (the date it commenced operations) to June 30, 2022.
Eagle Point Institutional Income Fund invests primarily in diversified pools of senior secured loans called collateralized loan obligations. Senior secured loans held by CLOs are typically floating rate loans to U.S. companies with a first lien position in the capital structure that are rated below investment grade. Through its investments in equity and junior debt securities of CLOs, the fund seeks to provide diversified exposure to U.S. companies across various industries.
“Eagle Point Institutional Income Fund is designed to give investors access to institutional investment opportunities in a non-traded, SEC-registered vehicle,” said Thomas Majewski, the fund’s chief executive officer. “We believe Eagle Point’s 10-year track record and established position in the CLO marketplace will serve the fund well in achieving its investment objectives…”
Eagle Point is a specialist asset manager focused on income-oriented credit investments including CLO securities, senior secured loans and portfolio debt securities. Eagle Point and its affiliates managed a total of 74 funds and separate accounts with a total of approximately $7.2 billion of assets under management, including capital commitments that were undrawn. Eagle Point was formed in 2012 by Thomas Majewski and Stone Point Capital.
