Eagle Point Credit Management Closes Defensive Income Fund
CLO specialist Eagle Point Credit Management has held the final close of its Defensive Income Fund. The fund had an original target size of $250mn, was oversubscribed and closed at its hard cap of $300mn.
“We saw very strong demand for our defensive income strategy, which we believe provides an attractive and uncorrelated source of yield,” said Thomas Majewski, Managing Partner of Eagle Point. “This niche investment strategy capitalizes on Eagle Point’s highly differentiated approach to source, diligence and acquire portfolio debt securities, including debt and preferred equity issued by credit funds and BDCs, which is unique among institutional credit managers. We greatly appreciate the confidence that our investors have in our ability to deliver yield across market cycles.”
Eagle Point was formed in 2012 by Majewski and Stone Point Capital.
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