CION Interval Fund Reports Highest Quarterly Capital Raise
CION Ares Diversified Credit Fund, a credit interval fund, saw its highest quarterly capital raise since inception during the second quarter of 2021.
CION Ares Diversified Credit Fund, a credit interval fund, has reported its highest quarterly capital raise since inception during the second quarter of 2021.
As of June 30, 2021, the fund had $1.6 billion in total managed assets after raising approximately $245 million in the second quarter.
The company said that it believes that a combination of continued low yields and a challenging environment for fixed income has investors incorporating income alternatives into their portfolios in record numbers.
“We continue to see strong adoption of the fund, as investors seek out income alternatives that can provide yield and enhance diversification,” said Mark Gatto, co-chief executive officer of CION. “Because [the fund] invests across the credit spectrum, it can quickly capitalize on opportunities as they arise. The inflows this quarter are evidence that investors were impressed with our fund’s resiliency throughout the challenges of the past year and recognize the value of our unique strategy.”
Gatto noted that the fund saw inflows from across the “full range” of its distribution network, including independent registered investment advisors, broker-dealers, and wirehouses.
CION sponsors, through CION Ares Management LLC, CION Ares Diversified Credit Fund, a globally diversified credit interval fund with approximately $1.6 billion in total managed assets. The company also manages CION Investment Corporation, a non-traded business development company with approximately $1.7 billion in assets under management.
