Home News TP Flexible Income Fund Increases Distribution Rate

TP Flexible Income Fund Increases Distribution Rate

TP Flexible Income Fund Inc, a non-traded traded business development company created by the merger between Pathway Capital Opportunity Fund and Triton Pacific Investment Corporation, has increased its annualized distribution rate.

TP Flexible Income Fund Inc, a non-traded traded business development company created by the merger between Pathway Capital Opportunity Fund and Triton Pacific Investment Corporation, has increased its annualized distribution rate from 6.0 percent to 7.0 percent, based on the current offering price.

The public offering price is $11.38 per share, and the 100 basis point annualized distribution increase is effective as of the January 24, 2020 record date.

The distributions have weekly record dates and are payable monthly to the stockholders of record as of the close of business of each week in January 2020 and February 2020.

The increased declared distributions equal a weekly amount of $0.01528 per share of common stock, a $0.00218 increase compared to the previously declared distribution weekly amount of $0.01310 per share of common stock.

TP Flexible Income Fund invests primarily in senior and secured credit of privately owned U.S. middle market companies. As of the third quarter of 2019, the fair value of the fund’s investments totaled $32.1 million. The fund is managed by Prospect Flexible Income Management LLC, which is a controlled affiliate of Prospect Capital Management L.P.

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