We dive into MCIP, outlining the investment strategy, portfolio composition, and other details of Monroe Capital's non-traded BDC.
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.
"The Cox Capital Offer appears designed to transfer value from BCRED shareholders to Cox Capital and its investors," according to a Board recommendation viewed in EvergreenLink's Notice Board.
PIMCO Private Income Fund targets performing private credit across hard assets, financial assets, and corporate credit, including through secondaries.
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.
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 8.5% in withdrawal requests for Oaktree Strategic Credit Fund will be satisfied with assistance from the firm's parent, Brookfield.
