Triloma EIG Energy Income Fund and Triloma EIG Energy Income Fund – Term I, two unlisted investment companies that focus on privately originated energy company and project debt, are suspending their offerings “due to market conditions,” according to recent filings with the Securities and Exchange Commission. The boards also approved to suspend each fund’s share repurchase programs.
The boards believe that it will be in shareholders’ best interests to consider a plan of liquidation for each fund, which would authorize their termination, liquidation and dissolution. Time frames will be provided once a decision is reached.
The funds have struggled to raise significant equity in recent months, with a combined $6.6 million raised since the beginning of 2018. Triloma EIG Energy Income Fund and Triloma EIG Energy Income Fund I have raised $24.6 million and $20.0 million since their July 2015 launch, respectively.
According to Summit Investment Research, Triloma EIG Energy Income Fund had a total return of 10.9 percent in 2016 and 12.5 percent in 2017, while Triloma EIG Energy Income Fund I had a total return of 11.3 percent in 2016 and 11.6 percent in 2017.
Triloma EIG Energy Income Fund and Triloma EIG Energy Income Fund – Term I are managed by Triloma Energy Advisors and EIG Credit Management Company, wholly owned subsidiaries of Triloma Financial Group and EIG Global Energy Partners, respectively.