Variant Investments Launches $200 Million Interval Fund
Variant Investments LLC, an alternative income investment firm, has launched the Variant Alternative Income Fund, a closed-end interval fund.
Variant Investments LLC, an alternative income investment firm, has launched the Variant Alternative Income Fund, a closed-end interval fund. The fund, which has registered $200 million in shares, plans to invest in assets such as music royalties, litigation finance, and government receivables.
The fund will offer two separate classes of shares different fees and expenses. The institutional share class (NICHX) is available as of October 1st, while the investor share class (UNIQX), will be available November 1st, 2018.
Shares will initially be priced at $25.00 per share, and later the price for each class will be based on the net asset value per share on the date the shares are purchased. The minimum initial investment is $1 million for institutional shares and $25,000 for investor shares.
Institutional and investor class shares are subject to different fees and expenses. Fees and expenses include annual management fees of 1.02 percent for both share classes, and an annual distribution and servicing fee of 0.25 percent for investor class shares. Neither class is subject to an initial sales charge.
“The interval fund structure allows us to provide investors with less liquid, potentially higher yielding alternative investments,” said Variant founder Curt Fintel. “We have been building a compelling portfolio of high cash flow investments in our private fund over the last year, and we are excited to convert them into our interval fund to serve the needs of today’s sophisticated investor.”
The company launched its Variant Alternative Income Fund LP private placement offering in October 2017.
Variant LLC serves as the investment advisor to the fund, and together with its affiliates, has approximately $24 million in assets under management as of June 30, 2018.
Variant Investments was formed in 2017 by three directors of research from CTC | myCFO, a firm serving ultra-high net worth individuals and single-family offices.
