EL SEGUNDO, CA—Griffin Capital Co. said Monday it had launched the Institutional Access Credit Fund, an Investment Company Act of 1940 closed-end interval fund designed to provide individual investors with a portfolio of actively-managed debt securities. The new vehicle is actively managed by Bain Capital Credit, and follows on Griffin Capital's 2014 launch of a closed-end interval fund that focuses on real estate investment funds and securities.
The credit fund's investment objective is to generate both current income and capital appreciation with low volatility and low correlation to the broader markets. “By providing individual investors with access to a portfolio of institutional, diversified credit instruments that draws upon the expertise and investment management skills of Bain Capital Credit, we are potentially enabling 'Main Street' investors to capitalize on opportunities for income generation and capital appreciation that have previously been available only to large institutions,” says Randy Anderson, president of Griffin Capital Asset Management Co. LLC.
A report in the Boston Globe Monday noted that the fund, which will have a $1,000 minimum investment for retirement plans and a $2,500 minimum for regular accounts, represents a departure for Boston-based Bain Capital, which invests billions of dollars on behalf of institutions. At Bain Capital Credit, managing director and COO Jeffrey Hawkins says, “The Griffin Institutional Access Credit Fund represents the first fund that leverages the Bain Capital Credit platform to work for individual investors.
“We could not have chosen a more experienced or knowledgeable partner than Griffin Capital to make this offering possible,” he continues. “Its ability to develop and manage institutional portfolios for individual investors has been crucial to this process, and we are excited to work with them in an advisory capacity again in the future.” BCSF Advisors, LP, a subsidiary of Bain Capital Credit, will sub-advise the new fund.
Assets in the fund's portfolio may include bank loans, high-yield bonds, structured credit, middle-market direct loans and non-performing loans. The fund's structure as a '40 Act interval fund provides individual investors with periodic liquidity due to its obligation to repurchase a limited amount of shares at certain intervals, typically on a quarterly basis.
The new fund is available in the following share classes: Class A (CRDTX); Class C (CGCCX); and Class I (CRDIX). The fund's registration statement was declared effective on March 30.
Grffin Capital can point to the success of the credit fund's predecessor, Griffin Institutional Access Real Estate Fund (GIREX). It reached $1 billion in assets under management this past September, a little more than two years after its launch on June 30, '14.
At the time, Anderson commented that the “rapid growth” in AUM reflected “the strong acceptance of our interval fund model. Our fund enables individual investors to participate in institutional real estate investments.
“In today's volatile market environment,” he continued, “the pressing need for individual investors to find strong risk-adjusted returns is more imperative than ever. Our strong performance since inception has validated GIREX's exceptional investment strategy.” GIREX strategically invests in an actively managed blend of private institutional real estate investment funds as well as a diversified set of publicly traded real estate securities.
EL SEGUNDO, CA—Griffin Capital Co. said Monday it had launched the Institutional Access Credit Fund, an Investment Company Act of 1940 closed-end interval fund designed to provide individual investors with a portfolio of actively-managed debt securities. The new vehicle is actively managed by
The credit fund's investment objective is to generate both current income and capital appreciation with low volatility and low correlation to the broader markets. “By providing individual investors with access to a portfolio of institutional, diversified credit instruments that draws upon the expertise and investment management skills of
A report in the Boston Globe Monday noted that the fund, which will have a $1,000 minimum investment for retirement plans and a $2,500 minimum for regular accounts, represents a departure for Boston-based
“We could not have chosen a more experienced or knowledgeable partner than Griffin Capital to make this offering possible,” he continues. “Its ability to develop and manage institutional portfolios for individual investors has been crucial to this process, and we are excited to work with them in an advisory capacity again in the future.” BCSF Advisors, LP, a subsidiary of
Assets in the fund's portfolio may include bank loans, high-yield bonds, structured credit, middle-market direct loans and non-performing loans. The fund's structure as a '40 Act interval fund provides individual investors with periodic liquidity due to its obligation to repurchase a limited amount of shares at certain intervals, typically on a quarterly basis.
The new fund is available in the following share classes: Class A (CRDTX); Class C (CGCCX); and Class I (CRDIX). The fund's registration statement was declared effective on March 30.
Grffin Capital can point to the success of the credit fund's predecessor, Griffin Institutional Access Real Estate Fund (GIREX). It reached $1 billion in assets under management this past September, a little more than two years after its launch on June 30, '14.
At the time, Anderson commented that the “rapid growth” in AUM reflected “the strong acceptance of our interval fund model. Our fund enables individual investors to participate in institutional real estate investments.
“In today's volatile market environment,” he continued, “the pressing need for individual investors to find strong risk-adjusted returns is more imperative than ever. Our strong performance since inception has validated GIREX's exceptional investment strategy.” GIREX strategically invests in an actively managed blend of private institutional real estate investment funds as well as a diversified set of publicly traded real estate securities.
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