The secondary sale reportedly involves loan positions tied to one of the firm's interval funds.
The deal would reportedly shift the vehicle's assets into a closed-end structure and trigger a delisting.
The unsolicited bid comes just three days after Blue Owl Credit Income Corp. disclosed 16.8% in Q3 redemption requests.
After an unsuccessful first attempt, Cox has come back to the table with an unsolicited bid valuing Class I shares at ~13% below their August 31 NAV.
Cox Capital Retail Secondaries Fund I is seeking up to $40 million of BCRED and HLEND at discounts to NAV of 12.5% and 17.5%, respectively.
We examine the Q2 capital flows, investment activity, and performance of the secondaries-focused interval fund, leveraging EvergreenLink Data.
The recently registered interval fund, sub-advised by Barings, will target private asset-based credit investments through direct and secondary transactions.
Cox Capital currently has outstanding cash offers for five private debt vehicles, with discounts to NAV ranging from 14% to 37%.
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.
We examine the Q4 capital flows, investment activity, and performance of the secondaries-focused interval fund, leveraging EvergreenLink Data.
