BRIEF-Vertical Capital Income Fund Announces Sale Of Majority Of Investment Portfolio In Advance Of Expected New Investment Advisory Agreement With Carlyle

Reuters
2023/07/11

July 11 (Reuters) - Vertical Capital Income Fund

:

* VERTICAL CAPITAL INCOME FUND ANNOUNCES SALE OF MAJORITY OF INVESTMENT PORTFOLIO IN ADVANCE OF EXPECTED NEW INVESTMENT ADVISORY AGREEMENT WITH CARLYLE

* VERTICAL CAPITAL INCOME FUND - SELECTED TWO WINNING BIDDERS FOR A SIGNIFICANT MAJORITY OF ITS INVESTMENT PORTFOLIO

* VERTICAL CAPITAL INCOME FUND - WILL INVEST SALES PROCEEDS IN CASH EQUIVALENTS IN ANTICIPATION OF CLOSING OF TRANSACTION

* VERTICAL CAPITAL INCOME FUND - CONSEQUENTLY, FUND WILL GENERATE REDUCED INVESTMENT INCOME WHILE PROCEEDS ARE IN CASH EQUIVALENTS

* VERTICAL CAPITAL INCOME FUND - CURRENT FUND BOARD HAS TERMINATED FUND'S MANAGED DISTRIBUTION PLAN AND SUSPENDED ITS EXISTING DISTRIBUTION POLICY

* VERTICAL CAPITAL INCOME FUND - UNDER TERMS, CGCIM WILL MAKE SPECIAL ONE-TIME PAYMENT TO CO'S SHAREHOLDERS AS OF CLOSING DATE OF $10 MILLION

* VERTICAL CAPITAL INCOME FUND - IN ADDITION, CGCIM WILL MAKE A $40 MILLION EQUITY INVESTMENT IN FUND IN MULTIPLE TRANSACTIONS

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