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Griffin-Bain Capital Credit Interval Fund Closes First Direct Origination Investment

July 10, 2018, 08:01 AM
Filed Under: Industry News
Related: Funds

Griffin Capital Company, LLC, on behalf of Griffin Institutional Access Credit Fund recently closed on its first directly-originated investment.

Dr. Randy Anderson, President of Griffin Capital Asset Management Company, said "We are excited to announce the closing of our first directly-originated investment in the Fund. With exemptive relief in hand, Griffin Institutional Access Credit Fund shareholders can now gain exposure to the full breadth and expertise of the Bain Capital Credit Platform, including these direct origination opportunities, as well as senior direct lending and non-performing loan (NPL) investments sourced from financial institutions in Europe. Our ability to provide investors access to true institutional investment opportunities is a hallmark of our fund platform at Griffin."

The Griffin Institutional Access Credit Fund commenced operations on April 3, 2017.

"We are proud of our performance thus far, outperforming the leveraged loan index as well as traditional bonds," said Jeff Hawkins, COO of Bain Capital Credit. "Alternative credit has historically performed well within a variety of market conditions and we believe the Fund is well positioned in today's dynamic market environment."

Griffin Institutional Access Credit Fund, a closed-end, interval fund registered under the Investment Company Act of 1940, is an actively managed, diversified portfolio of credit instruments, which may include bank loans, high-yield bonds, structured credit, middle-market direct lending, and non-performing loans. The Fund offers daily pricing and periodic liquidity at net asset value, and the Fund will make quarterly offers to repurchase between five percent and 25 percent of its outstanding shares at net asset value. The Fund began reporting on NASDAQ on April 3, 2017 with an initial share price of $25.00. The adviser of the Fund is Griffin Capital Credit Advisor, LLC, a majority owned subsidiary of Griffin Capital Company, LLC.

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