Latest news with #CLO
Yahoo
10 hours ago
- Business
- Yahoo
Comvest Credit Partners Announces Closing of Fourth Middle-Market CLO at $403 Million
WEST PALM BEACH, Fla., August 12, 2025--(BUSINESS WIRE)--Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, today announced the closing of Comvest Credit 2025-2 CLO, a $403 million collateralized loan obligation (CLO). The transaction represents Comvest Credit Partners' fourth new CLO issuance in the last year and second CLO issuance in 2025. "As we continue to expand our presence and strengthen relationships in the middle-market CLO space, we are grateful for the strong support and confidence investors have shown in our alternative credit platform," said Jason Gelberd, Partner, Chief Operating Officer, and Co-Head of Direct Lending at Comvest Credit Partners. "CLOs remain a key financing solution for our credit portfolios, and we believe the growth of our alternative credit platform is a testament to our long-standing and proven credit investment performance across market cycles." Comvest Credit 2025-2 CLO, rated by Standard & Poor's, is collateralized by a diversified portfolio of senior secured loans originated and managed by Comvest Credit Partners. The CLO features a four-and-a-third-year reinvestment period and a two-year non-call period. Deutsche Bank acted as the Lead Arranger in connection with the transaction. About Comvest Credit PartnersComvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with credit facilities up to $300 million-plus. For more information, please visit About Comvest PartnersComvest Partners ("Comvest") is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and opportunistic credit investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. In 2025, Comvest Partners proudly celebrates 25 years of investment management leadership, and today manages $16.6 billion in assets, with over $19.2 billion invested since inception. Comvest Partners is based in West Palm Beach, with offices in Chicago and New York City. For more information, please visit View source version on Contacts Andrew Goldsmith, Managing Director of Capital Markets, Comvest Credit Partners – Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15 hours ago
- Business
- Business Wire
Eagle Point Credit Company Inc. Announces Second Quarter 2025 Financial Results and Declares Fourth Quarter 2025 Common and Preferred Distributions
GREENWICH, Conn.--(BUSINESS WIRE)--Eagle Point Credit Company Inc. (the 'Company') (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCU, ECCV, ECCW, ECCX) today announced financial results for the quarter ended June 30, 2025 and certain additional activity through July 31, 2025, and declared distributions on shares of the Company's common and preferred stock. 'We took advantage of the market dislocation in the second quarter to acquire discounted CLO equity investments that will enhance the Company's returns over the long-term,' said Thomas P. Majewski, Chief Executive Officer. 'Despite the dislocation, recurring cash flows from our portfolio remained robust during the quarter, comfortably exceeding our distributions and operating expenses.' 'Looking forward, we remain focused on lengthening our weighted average remaining reinvestment period, maintaining strong recurring cash flows and deploying capital opportunistically to further enhance net investment income over time,' concluded Mr. Majewski. SECOND QUARTER 2025 RESULTS Net asset value ('NAV') per common share of $7.31 as of June 30, 2025, compared to $7.23 as of March 31, 2025. Net investment income ('NII') of $0.23 per weighted average common share. 1,2 NII less realized losses from investments of $0.16 per weighted average common share compares to $0.33 of NII and realized gains per weighted average common share for the quarter ended March 31, 2025, and $0.16 of NII less realized losses per weighted average common share for the quarter ended June 30, 2024. 3 Realized losses from forward currency contracts of $0.08 per weighted average common share, which were substantially offset by unrealized gains on non-U.S. dollar-denominated investments, resulting in little to no impact to NAV. GAAP net income (inclusive of unrealized mark-to-market gains) of $57.5 million, or $0.47 per weighted average common share. Received $85.2 million in recurring cash distributions 4 from the Company's investment portfolio, or $0.69 per weighted average common share, exceeding the Company's aggregate distributions on its common stock and operating costs for the quarter. from the Company's investment portfolio, or $0.69 per weighted average common share, exceeding the Company's aggregate distributions on its common stock and operating costs for the quarter. Deployed $86.1 million in gross capital into collateralized loan obligation ('CLO') equity, CLO debt, loan accumulation facilities and other investments. The weighted average effective yield of new CLO equity investments made by the Company during the quarter, which includes a provision for credit losses, was 17.3% as measured at the time of investment. As of June 30, 2025: The weighted average effective yield of the Company's CLO equity portfolio (excluding called CLOs), based on amortized cost, was 11.45%. This compares to 13.66% as of March 31, 2025 and 15.28% as of June 30, 2024. 5 The weighted average expected yield of the Company's CLO equity portfolio (excluding called CLOs), based on fair market value, was 18.81%. This compares to 19.69% as of March 31, 2025 and 22.36% as of June 30, 2024. 5 Issued approximately 5.3 million shares of common stock pursuant to the Company's 'at-the-market' offering program for total net proceeds of $40.7 million. The common stock issuance resulted in $0.02 per share of NAV accretion during the quarter. Issued approximately 1.6 million shares of Series AA and 69,040 shares of Series AB 7.00% Convertible Perpetual Preferred Stock for total proceeds of $37.6 million pursuant to the Company's continuous offering of Series AA and Series AB 7.00% Convertible Perpetual Preferred Stock (the 'Convertible Perpetual Preferred Stock'). Formed a second CLO collateral manager partnership with a long-established credit platform. Similar to the Company's existing strategic relationship, this new partnership includes a meaningful, perpetual top-line revenue share in the CLO business, which is expected to generate recurring revenue to the Company. As of June 30, 2025, the Company had debt and preferred equity securities outstanding which totaled 41.1% of its total assets (less current liabilities). 6 As of June 30, 2025, on a look-through basis, and based on the most recent CLO trustee reports received by such date: The Company, through its investments in CLO equity securities, had indirect exposure to approximately 1,906 unique corporate obligors. The largest look-through obligor represented 0.6% of the loans underlying the Company's CLO equity portfolio. The top-ten largest look-through obligors together represented 4.8% of the loans underlying the Company's CLO equity portfolio. The look-through weighted average spread of the loans underlying the Company's CLO equity portfolio was 3.33% as of June 2025, down 3 basis points from March 2025. GAAP net income was comprised of total investment income of $48.4 million and total net unrealized gains on investments of $54.8 million, offset by financing costs and operating expenses of $20.4 million, realized losses from forward currency contracts of $9.8 million, realized capital losses on investments of $8.3 million, distributions and amortization of offering costs on temporary equity of $4.1 million and net unrealized losses on certain liabilities held at fair value of $3.1 million. Recorded other comprehensive income of $2.3 million. THIRD QUARTER 2025 PORTFOLIO ACTIVITY THROUGH JULY 31, 2025 AND OTHER UPDATES As previously published on the Company's website, management's estimate of the range of the Company's NAV per common share is estimated to be between $7.44 and $7.54 as of July 31, 2025. Received $65.5 million of recurring cash distributions from the Company's investment portfolio. As of July 31, 2025, some of the Company's investments had not yet reached their payment date for the quarter. Deployed $37.8 million of net capital into CLO equity, loan accumulation facilities and other investments. FOURTH QUARTER 2025 DISTRIBUTIONS The Company is pleased to declare three separate monthly distributions of $0.14 per share on its common stock for the fourth quarter of 2025.7 The following schedule applies to the distributions: Amount per Common Share Record Date Payable Date $0.14 October 14, 2025 October 31, 2025 $0.14 November 10, 2025 November 28, 2025 $0.14 December 11, 2025 December 31, 2025 Expand The Company evaluates its ongoing common stock distributions based on a number of factors, including recurring cash flows generated from the Company's investment portfolio, GAAP earnings and the Company's requirement to distribute substantially all of its taxable income. The Company is also pleased to announce the declaration of distributions on its 6.50% Series C Term Preferred Stock due 2031 (the 'Series C Term Preferred Stock'), 6.75% Series D Preferred Stock (the 'Series D Preferred Stock') and 8.00% Series F Term Preferred Stock due 2029 (the 'Series F Term Preferred Stock') as follows: Preferred Stock Type Amount per Share Record Date Payable Date Series C Term Preferred Stock $0.135417 October 14, 2025 November 10, 2025 December 11, 2025 October 31, 2025 November 28, 2025 December 31, 2025 Series D Preferred Stock $0.140625 Series F Term Preferred Stock $0.166667 Expand The distributions on the Series C Term Preferred Stock, Series D Preferred Stock and Series F Term Preferred Stock reflect an annual distribution rate of 6.50%, 6.75% and 8.00%, respectively, of the $25 liquidation preference per share. The Company is also pleased to announce the declaration of distributions on shares of the Convertible Perpetual Preferred Stock as follows: Preferred Stock Type Amount per Share Record Dates Payable Dates 7.00% Series AA Convertible and Perpetual Preferred Stock $0.145834 October 14, 2025 November 10, 2025 December 11, 2025 October 31, 2025 November 28, 2025 December 31, 2025 7.00% Series AB Convertible and Perpetual Preferred Stock $0.145834 Expand The distributions on shares of the Convertible Perpetual Preferred Stock reflect an annual distribution rate of 7.00% of the $25 liquidation preference per share and accumulate from the date of original issue. CONFERENCE CALL The Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss the Company's financial results for the quarter ended June 30, 2025, as well as a portfolio update. All interested parties may participate in the conference call by dialing (877) 407-0789 (toll-free) or (201) 689-8562 (international). Please reference Conference ID 13754633 when calling, and the Company recommends dialing in approximately 10 to 15 minutes prior to the call. A live webcast will also be available on the Company's website ( Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software. An archived replay of the call will be available shortly afterwards until September 11, 2025. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13754633. ADDITIONAL INFORMATION The Company has made available on the investor relations section of its website, (in the financial statements and reports section), its unaudited consolidated financial statements for the period ended June 30, 2025. The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio for the quarter ended June 30, 2025. The Company has filed these reports with the Securities and Exchange Commission ('SEC'). ABOUT EAGLE POINT CREDIT COMPANY The Company is a non-diversified, closed-end management investment company. The Company's primary investment objective is to generate high current income, with a secondary objective to generate capital gains. The Company seeks to achieve its investment objectives by investing primarily in equity and junior debt tranches of CLOs. The Company is externally managed and advised by Eagle Point Credit Management LLC. In addition to the Company's regulatory requirement to file certain portfolio information with the SEC, the Company makes certain additional financial information available to investors via its website ( press releases and other public disclosures. FORWARD-LOOKING STATEMENTS This press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. ______________________ 1 'Per weighted average common share' is based on the average daily number of shares of common stock outstanding for the period and 'per common share' refers to per share of the Company's common stock. 2 NII does not reflect distributions and amortization of offering costs on the Series D Preferred Stock and the Series AA/AB Convertible Perpetual Preferred Stock (collectively with the Series D Preferred Stock, the 'temporary equity') of $0.03 per weighted average common share. 3 Commencing Q2 2025, realized gains/losses from forward currency contracts are reported separately from NII and realized gains/losses per share. For the quarter ended March 31, 2025 and June 30, 2024, NII and realized gains/losses per share included $0.03 and $0.01 per share of realized gains from forward currency contracts, respectively. 4 'Recurring cash distributions' refers to the quarterly distributions received by the Company from its CLO equity, CLO debt and other investments and distributions from loan accumulation facilities in excess of capital invested and excludes funds received from CLOs called. 5 'Weighted average effective yield' is based on an investment's amortized cost whereas 'weighted average expected yield' is based on an investment's fair market value as of the applicable period end as disclosed in the Company's financial statements, which is subject to change from period to period. Please refer to the Company's quarterly unaudited financial statements for additional disclosures. 6 Over the long term, management expects to generally operate the Company with leverage within a range of 27.5% to 37.5% of total assets (less current liabilities) under normal market conditions. The Company may incur leverage outside of this range, subject to applicable regulatory limits. 7 The ability of the Company to declare and pay distributions on its common stock is subject to a number of factors, including the Company's results of operations. Distributions on its common stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The actual components of the Company's distributions for US tax reporting purposes can only be finally determined as of the end of each fiscal year of the Company and are thereafter reported on Form 1099-DIV. Expand
Business Wire
6 days ago
- Business
- Business Wire
Europe's First Passive CLO ETF Launched by Palmer Square Capital Management
MISSION WOODS, Kan.--(BUSINESS WIRE)-- Palmer Square Capital Management ('Palmer Square'), a credit-focused alternative asset management firm with more than $35.9 billion* in assets under management and one of the world's largest CLO issuers, today announced the launch and commencement of trading for the Palmer Square EUR CLO Senior Debt Index UCITS ETF (PCL0), the first passive Euro-denominated CLO ETF designed specifically for European institutional investors that provides exposure to AAA- and AA-rated CLO debt. PCL0 is benchmarked against Palmer Square's EUR CLO Senior Debt Index (ECLOSE), expanding differentiated access globally to the European CLO senior debt. PCL0 is the first sub-fund of a newly established Irish collective asset-management vehicle (ICAV), Palmer Square UCITS ICAV, an umbrella fund with segregated liability between sub-funds, established under the laws of Ireland. The launch of PCL0 epitomizes the philosophy of applying our deep global credit expertise and experience to innovative, investor-driven product solutions tailored to meet the rising institutional demand for this asset class around the world Share 'The launch of PCL0 epitomizes the philosophy of applying our deep global credit expertise and experience to innovative, investor-driven product solutions tailored to meet the rising institutional demand for this asset class around the world,' said Angie Long, Chief Investment Officer and Portfolio Manager at Palmer Square. Palmer Square Founder and CEO, Chris Long, added, 'As the newest addition to our global line-up of investment solutions, PCL0 is the first in a series of European Palmer Square ETFs providing high-quality exposure to cycle-resilient senior CLO debt, further extending global access to our recognized track record, while highlighting our distinct positioning and leadership in global credit markets.' PCL0 tracks the performance, before fees and expenses, of ECLOSE, a proprietary, research-driven benchmark launched by Palmer Square in 2024 with a performance track record starting in 2018. Designed to provide institutional investors with a transparent, rules-based, high-quality benchmark for Euro-denominated CLO senior debt, ECLOSE serves as one of the cornerstones for Palmer Square's expansion into the European ETF market. 'Our ETFs are designed to simplify portfolio construction while facilitating a superior way of gaining market exposure to the senior debt tranches of Euro-denominated CLOs,' said Taylor Moore, Managing Director and Portfolio Manager at Palmer Square. 'PCL0 will enable institutional investors to efficiently allocate to the universe of AAA and AA European CLO debt and achieve optimal market exposure with ease.' Jeremy Goff, Managing Director at Palmer Square, noted, 'As the first and only passive UCITS CLO ETF tracking the performance characteristics of our ECLOSE index, PCL0 provides European institutional investors with an innovative and unique tool for accessing and allocating capital to this market.' Palmer Square was the #1 European CLO issuer 1 from 2022 through 2024, reinforcing its position at the forefront of European structured credit. The firm pioneered the first globally distributed CLO indices over a decade ago, including the U.S.-focused Palmer Square CLO Senior Debt Index (CLOSE) and CLO Debt Index (CLODI). Building on this legacy, the launch of PCL0 marks the next step in bringing Palmer Square's approach and expertise to institutional investors across Europe. Palmer Square UCITS ICAV is advised in Ireland by Maples and Calder (Ireland) LLP. Carne Global Fund Managers (Ireland) Limited serves as the Management Company. J.P. Morgan serves as Administrator, Registrar and Depository. For more information, please visit About Palmer Square Capital Management Founded in 2009 by Christopher Long, with major offices in Kansas City and London, Palmer Square manages over $35.9 billion in fixed income/credit investments on behalf of a diverse client base inclusive of institutional investors, wealth management firms, and high net worth individuals (as of 06/30/25). The firm primarily focuses on Opportunistic Credit, Income Strategies, Private Credit, and CLOs while offering many product opportunities, including mutual funds, exchange-traded funds, separately managed accounts, private partnerships, CLOs, and a publicly traded Business Development Company, Palmer Square Capital BDC Inc. (NYSE: PSBD). Notes and Disclosures This is a marketing communication. Investors should rely on information in the Prospectus, the Supplement of the relevant Fund and the relevant Fund's most recent annual and/or semi-annual reports when making a decision to invest in the Fund. Prospective investors may also wish to consider the KIID for the relevant Class prior to subscribing for Shares in that Class in order to assist them in making an informed investment decision. The investment which is promoted concerns the acquisition of units or shares in a fund and not in a given underlying asset owned by the fund. Complete information on risks can be found in the Prospectus. There is no guarantee that the investment objective of any passively managed fund will be achieved. The performance of a sub-fund may not match the performance of the index it tracks due to factors including, but not limited to, the investment strategy used, fees and expenses, and taxes. The Fund is considered a complex product. Investors in the Fund are expected to understand and be able to evaluate the strategy, characteristics and risks of the Fund as disclosed in the Supplement, and in particular the risks associated with investments in CLOs, in order to make an informed investment decision. Investors are expected to have the knowledge of, and the investment experience in the financial markets generally. The Shares of the Fund are intended exclusively for "Advanced Investors", "Professional Investors" and "Eligible Counterparties", each as prescribed in the current European MiFID template (as at the date of the Supplement). The sale of this Fund on the Secondary Market to Retail Investors is not permitted and the Fund shall not be offered to such Retail Investors. The Fund is not registered with the Swiss Financial Market Supervisory Authority ('FINMA') and is not currently listed on The Swiss Marketing Exchange ('SIX'). The Fund is pending approval of the Overseas Funds Regime ('OFR') by the Financial Conduct Authority and shall not be marketed to UK retail investors. Additionally, the listing of this Fund on the London Stock Exchange ('LSE') is currently pending. This communication is not directed at and must not be acted upon by persons inside the United States and is otherwise only directed at persons residing in jurisdictions where the relevant funds are authorised for distribution or where no such authorisation is required. The jurisdictions where distribution of the information is available at *Palmer Square Capital Management LLC's AUM is unaudited. The AUM is an estimate as of 06/30/2025 and is inclusive of Palmer Square Capital Management LLC and its affiliates. 1 The data includes all deals and managers in the CLO market except for Middle Market deals.
The Herald Scotland
31-07-2025
- Health
- The Herald Scotland
The story of NHS Fife's legal fees in Sandie Peggie tribunal
However, the case is complex and NHS Fife do not actually pay the full costs. The taxpayers most likely will. Shared legal team Crucially, NHS Fife is sharing a legal team with Dr Upton, the transgender medic at the forefront of the case. This may sound odd but it is actually standard in NHS legal cases. It is argued that the staff member may only have become exposed to any risk of liability after being sued while doing their job. However, NHS Fife must weigh up the risks in sharing a legal team, including whether there could be any "conflicts of interest". Ms Peggie is suing her employer and Dr Upton after she objected to the trans medic's use of the female changing room on Christmas Eve in 2023 at Victoria Hospital in Kirkcaldy. She also made reference to the situation being similar to men being housed in the female prison estate. The nurse was placed on special leave in December 2023 and suspended in January 2024. She was cleared of all misconduct allegations on July 15 2025, including two patient safety complaints. NHS Fife legal team It is important to note that health boards in Scotland do not directly employ their own solicitors. Solicitors in the Central Legal Office (CLO) act exclusively for the NHS. However, the CLO then appointed Jane Russell KC, from the Essex Court of Chambers in London, to represent the case in court. Silks - or King's Counsel (KC) barristers - typically charge between £500 and £1,500 per hour. Given Ms Russell had been at Dundee Tribunal Hearing Centre over 10 days from July 16, with court sitting approximately between 10am and 4pm each day, the recent sessions could have cost the health board in the region of £30,000. However, NHS Fife is a member of the Clinical Negligence and Other Risks Indemnity Scheme (CNORIS). This is a pooling arrangement between Scottish health boards and means NHS Fife will only be required to meet the first £25,000 of the cost. The remaining bill is covered by the scheme, which is paid for through the Scottish Government's Health and Social Care Directorate that underwrites the scheme. Costs so far As of June 30, NHS Fife have accrued £258,831.31 in legal costs associated with the Sandie Peggie case. But the costs are undoubtably set to rise. Research by Murray Blackburn Mackenzie policy collective states: "The decisions which have driven the cost of this case rest formally with NHS Fife, but in practice the CLO also appears to be a relevant decision-maker of some sort, but to what extent and with what oversight from its own senior management, is very difficult to say. "Perhaps the only place it will ever be possible to unpick the full story of who decided what, when and how, will be in front of a parliamentary committee, with the questions asked direct of senior staff and board members for NHS Fife, National Services Scotland and the Scottish Government itself." In a statement published on July 18, NHS Fife said: "As of 30 June 2025, £258,831.31 in legal costs have been recorded as expenditure related to the legal services associated with this case. "NHS Fife is liable for the first £25,000 of costs associated with defending the case." Earlier this year, NHS Fife did not reveal the legal costs, stating that the health board "believed that it did not hold the figures requested as the legal fees were managed through the Central Legal Office (CLO) and National Services Scotland (NSS) who administered the CNORIS Indemnity scheme". Following criticism from the Scottish Information Commissioner, NHS Fife revealed the costs amounted to £220,465.93 up to May 2025.
Hamilton Spectator
30-07-2025
- Business
- Hamilton Spectator
BCI-backed Brinley Partners Secures US$4 Billion Commitment
Victoria, British Columbia, Canada, July 30, 2025 (GLOBE NEWSWIRE) — British Columbia Investment Management Corporation ('BCI'), one of Canada's largest institutional investors, today announced that Brinley Partners, LP ('Brinley'), a private credit investment manager initially seeded by BCI's Principal Credit Fund, has secured an additional US$4 billion commitment from a leading U.S. insurance company. This capital will fund Brinley's inaugural collateralized loan obligation ('CLO'), the first in a planned series of rolling vintages, beginning with a US$1 billion investment vehicle. Brinley focuses on high quality companies in the middle-market, upper-middle market, and large cap space, operating in defensive sectors. Brinley's first flagship fund, Brinley Private Debt Fund I LP, closed in 2021 with approximately US$3 billion of total capital, inclusive of leverage. 'BCI first invested in Brinley in 2021, having built strong conviction in the strategy created by the company's Founder, Kerry Dolan, and the growing demand for corporate private debt. Since that time, Brinley has demonstrated successful execution and delivered strong results for BCI,' said Daniel Garant, Executive Vice President & Global Head, Public Markets at BCI. 'We're thrilled to see Brinley secure this US$4 billion commitment to extend their offering into the CLO market. This is a transformational transaction for Brinley and all equity partners – including BCI. We are pleased to continue our partnership with Brinley in their next phase of growth.' Kerry Dolan, Founder and Managing Partner of Brinley added: 'Our inaugural CLO is a natural extension of our credit platform, and welcoming a new strategic partner marks a meaningful milestone in Brinley's continued evolution and the growth of our firm.' Brinley's expansion into the CLO market reinforces its momentum as a growing, multi-product credit platform. Leveraging the firm's existing capabilities, the CLO will employ Brinley's flagship strategy of providing comprehensive capital solutions to high-quality mid-market and large-cap companies, with a specific emphasis on businesses with high barriers to entry, compelling industry fundamentals, and demonstrated revenue visibility or predictability, among other factors. The CLO strategy was specifically designed to meet the needs of insurance sector investment capital, including flexible structuring capabilities that allow the CLO to include various debt products. BCI's Principal Credit Fund has committed, or agreed to commit, more than US$2.5 billion to Brinley. About BCI British Columbia Investment Management Corporation (BCI) is one of Canada's largest institutional investors, with C$295 billion in gross assets under management as of March 31, 2025. For 25 years, BCI has built its legacy on performance with purpose, helping its 32 public sector and institutional clients deliver on their commitments. From securing pensions to supporting communities, it's investing that matters. Headquartered in Victoria, British Columbia, and with teams spanning Vancouver, New York, London, and Mumbai, BCI puts patient capital to work across public and private markets globally. Learn more on or connect on LinkedIn . About Brinley Partners Brinley Partners is a private investment firm focused on private credit, headquartered in New York. Brinley's private credit platform has approximately $10 billion in assets under management, including leverage and committed capital across its investment vehicles. For more information, please visit
