The non-traded fund currently has more than $2 billion in outstanding redemption requests.
The recently registered interval fund, sub-advised by Barings, will target private asset-based credit investments through direct and secondary transactions.
One of which, Hamilton Lane Private Secondary Fund, raised its investment capacity by $500 million and saw its NAV climb 1.6x QoQ to $409 million as of March.
The increase was driven by continued strength in the firm's evergreen strategies, notably in AlpInvest and asset-backed finance, according to CFO Justin Plouffe.
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.
The Zenzic Real Estate Credit Opportunities Fund launched in October 2025 with an anchor investment from GCM Grosvenor.
Partners Group's decision to impose a 5% redemption cap on its $9 billion private equity SICAV has erased more than 16% of the firm's market value in a single day.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
