The Fund invests in various strategies across the private credit asset class, resulting in a wide range of credit investments. The remainder of the Fund's assets will be allocated to dedicated liquidity sources that seek to outperform cash yields, provide needed liquidity to support investors' quarterly repurchases, pursue opportunistic yield and enhance overall portfolio diversification.
The Fund seeks attractive risk-adjusted returns and high current income.
|# Underlying Loans:||51|
|# of Industries:||30+|
|# Sourcing Partners:||30+|
|Avg Loan to Value:||41%|
|Avg. Maturity (Years):||4.4|
|Investment Name||Strategy||Sub-Strategy||Yield||Loan to Value||% of NAV|
|Project Juniper||Direct Lending||US Direct Lending - Core||12.0%||44%||4.8%|
|Project Continental||Direct Lending||US Direct Lending - Upper/Mega||11.7%||48%||4.3%|
|Project Maverick||Direct Lending||US Direct Lending - Upper/Mega||13.8%||29%||3.9%|
|Project Shepard||Real Estate Credit||US CRE Debt - Mid-Market||10.5%||36%||3.5%|
|Project Cascade||Real Estate Credit||US CRE Debt - Large Balance||13.2%||62%||3.5%|
|Project Denali||Distressed / Special Sits||US Direct Lending - Upper/Mega||12.8%||44%||3.4%|
|Project Stripes||Direct Lending||US Direct Lending - Core||11.6%||22%||3.4%|
|Project Echo||Distressed / Special Sits||European Direct Lending - Core||12.0%||N/A||3.3%|
|Project Architect||Distressed / Special Sits||Capital Solutions||13.6%||70%||2.6%|
|Project Metropolis||Direct Lending||US Direct Lending - Upper/Mega||11.1%||39%||2.6%|
|Ticker:||CAPIX (Class I shares)|
|Objective:||The fund seeks attractive risk-adjusted returns and high current income|
|Structure:||Interval Fund (40-Act registered) with daily purchase and quarterly repurchase|
|Benchmark:||Morningstar LSTA US Leveraged Loan Index|
|Leverage:||Expected 10%-25% of Fund’s assets|
|Liquidity Terms:||Quarterly; no less than 5% of outstanding shares|
|Expenses3,4:||1.50% (excluding borrowing costs)|
3The Advisor, Sub-Advisor and the Fund have entered into an Expense Limitation Agreement under which the Advisor has agreed contractually for a three-year period from the date of the Prospectus to reimburse certain other expenses incurred in the business of the Fund, calculated and reimbursed on a Class-by-Class basis in respect of each of Class A, Class C, and Class I with the exception of (i) the Investment Management Fee, (ii) the Shareholder Servicing Fee, (iii) the Distribution Fee, (iv) certain costs associated with the acquisition, ongoing investment and disposition of the Fund's investments and unconsummated investments, including legal costs, professional fees, travel costs and brokerage costs, (v) acquired fund fees and expenses, (vi) dividend and interest payments (including any dividend payments, interest expenses, commitment fees, or other expenses related to any leverage incurred by the Fund), (vii) taxes and costs to reclaim foreign taxes, and (viii) extraordinary expenses (as determined in the sole discretion of the Advisor), to the extent that such expenses exceed 0.25% of the average daily net assets of such class. See the prospectus for estimated interest expenses and additional information regarding fees and estimated operating expenses.
4Expenses include management fees of 1.25% and other expenses capped at 0.25%. Expenses excludes fees and interest on borrowed funds of 0.71% as of 11/10/23.
You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.
The statement of additional information is a supplementary document to the fund’s prospectus and contains additional information about the fund and includes further disclosure regarding its operations.