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Eagle Point Institutional Income Fund Joins Fidelity Alternative Investment Network Platform

Eagle Point Institutional Income Fund Joins Fidelity Alternative Investment Network Platform. Alternative investments, CLO, closed-end fund, collateralized loan obligation, credit, debt, distribution, Eagle Point, Eagle Point Institutional Income Fund, fund, investment
Eagle Point Institutional Income Fund Joins Fidelity Alternative Investment Network Platform. Alternative investments, CLO, closed-end fund, collateralized loan obligation, credit, debt, distribution, Eagle Point, Eagle Point Institutional Income Fund, fund, investment

Eagle Point Institutional Income Fund, a non-traded closed-end interval fund managed by Eagle Point Credit Management LLC, announced that the fund is now available to registered investment advisers and registered representatives through the Fidelity Alternative Investment Network.

Fidelity’s Alternative Investment Network is a “no transaction fee platform,” comprised of registered non-exchange traded alternative investments available to Fidelity clients.

“We are pleased to join the Fidelity Alternative Investment Network platform,” said Daniel Ko, senior principal of Eagle Point and portfolio manager of the fund. “Through our relationship with Fidelity, we are excited to make Eagle Point Institutional Income Fund even more accessible to investors through registered investment advisers and registered representatives.”

The company says the fund’s primary investment objective is to generate high current income, with a secondary objective to generate long-term capital appreciation by investing in collateralized loan obligation equity and debt instruments, which are backed by broad pools of senior secured loans made primarily to U.S. companies.

According to Eagle Point, the fund’s underlying loan portfolio includes exposure to 1,245 different companies and is comprised of 97% senior secured loans and 97% floating rate loans, as of July 31, 2023. The fund’s annualized distribution rate is 9.3% and net asset value per share was $9.97 as of July 31, 2023.

The fund recently announced its July 31, 2023, net asset value per share was $9.97, compared to $9.73 per share, as of July 31, 2022. They also declared that for the one-year period ending July 31, 2023, the fund generated a total return of 12.2%.

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 manage funds and separate accounts with a total of approximately $8.2 billion of assets under management. Eagle Point was formed in 2012 by Thomas Majewski and Stone Point Capital.

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