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Griffin Institutional Access Credit Fund Completes Reorganization with Griffin Capital BDC

Griffin Institutional Access Credit Fund, a non-traded interval fund, has completed the reorganization with affiliated non-traded business development company Griffin Capital BDC Corp, where all of the BDC’s assets were transferred to the interval fund in exchange for fund shares.

As reported by The DI Wire last month, Griffin BDC shareholders overwhelmingly approved the transaction, with 94 percent voting in favor of the reorganization.

Griffin Institutional Access Credit Fund, which commenced operations in April 2017, is sub-advised by Bain Capital Credit, a global credit specialist and affiliate of Bain Capital.

“We believe our interval fund structure coupled with Bain’s investment philosophy and global credit footprint will provide an enhanced investor experience over time for both our former Griffin BDC shareholders and current credit fund shareholders alike,” commented Kevin Shields, chairman and CEO of Griffin Capital.

Griffin Capital BDC Corp. suspended its offering last year citing unfavorable market conditions and a preference for the interval fund structure.

Griffin Institutional Access Credit Fund is an actively managed, diversified portfolio of credit instruments, which may include bank loans, high-yield bonds, structured credit, middle-market direct lending, and non-performing loans. The Credit Fund offers daily pricing and periodic liquidity at net asset value and the will make quarterly offers to repurchase between five percent and 25 percent of its outstanding shares at net asset value.

The fund began reporting on NASDAQ on April 3, 2017 with an initial share price of $25.00. The advisor is Griffin Capital Credit Advisor LLC, a majority owned subsidiary of Griffin Capital Company, LLC.

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