Corporate Capital Trust Announces Plans to List Shares
Corporate Capital Trust, a non-traded business development company sponsored and advised by CNL Financial Group and KKR & Co., is planning to list its shares on national securities exchange in the next 12 months, according to a filing with the Securities and Exchange Commission.
The BDC is currently advised by CNL Fund Advisors Company. In connection with the potential listing, the board approved a proposed advisory agreement where KKR will assume the role of sole investment advisor if and when the shares are listed.
Additionally, a special advisory committee will be created following the listing for board consultation to which a CNL Fund Advisors representative will be appointed. The BDC said that it expects to disclose further details about the proposed advisory agreement over the next few months.
Corporate Capital Trust invests primarily in the debt of privately owned companies, with a focus on originated transactions sourced through the networks of its advisors. CNL Financial Group is a private investment management firm providing global real estate and alternative investments. KKR is a global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. The company’s investment portfolio, excluding short-term investments, totaled $4.4 billion and consisted primarily of senior debt and subordinated debt, as of December 31, 2016.
