We look at GIPC, outlining the investment strategy, share structure, and other details of Guggenheim's BDC.
The former Sixth Street Senior Advisor will oversee portfolio construction for the firm's solutions, including credit secondaries and direct credit.
The recently registered interval fund, sub-advised by Barings, will target private asset-based credit investments through direct and secondary transactions.
The credit secondaries vehicle will reportedly acquire loans from the manager's existing portfolio and provide fresh capital for new lending.
The tender offer fund targets private credit investments through primaries, secondaries, co-investments, and directs.
The fund has already secured a $125 million anchor commitment from Beedie Capital following its acquisition of a 50% stake in Vistara.
Cox Capital currently has outstanding cash offers for five private debt vehicles, with discounts to NAV ranging from 14% to 37%.
The Philadelphia-based investment manager has expanded its recurring liquidity program to now include five non-traded BDCs.
The unsolicited bid priced shares at 85% of NAV, the smallest discount of the three Cox offers targeting BDCs managed by Ares, BlackRock, and Apollo.
The ~$30 million transaction will provide liquidity to shareholders in private debt funds managed by BlackRock, Apollo, and Ares at 15-30% discounts.
