27th Apr 2015 08:11
LONDON (Alliance News) - Fair Oaks Income Fund Ltd on Monday said it has entered into a deal to acquire USD21.1 million of equity notes and USD11 million of Class F notes in TICP CLO IV.
TICP CLO IV is a new collateralised loan obligation backed by a portfolio of US broadly syndicated, secured loans, Fair Oaks said. It is managed by TPG Institutional Credit Partners, a part of TPG Special Situations, the credit and special situations arm of private equity group TPG.
The investment will give Fair Oaks a 52% stake in the total equity of the CLO.
Shares in Fair Oaks were untraded Monday, having last traded at 1.04 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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