FAIR OAKS INCOME LIMITED (the "Company")
(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)
Portfolio Update
Fair Oaks Income Limited (the "Company") is pleased to announce that FOMC III LP ("Master Fund III") has an investment in the majority equity of a new US CLO.
Details of New Investments:
Master Fund III entered into a binding contract to acquire, in the primary market, $22.2 million notional of equity notes in Allegro XIX, a new CLO backed by a portfolio of US broadly syndicated senior secured loans.
The manager of the CLO's portfolio is Axa Investment Management, which is a global investment firm with over €184 billion assets under management.
The Allegro XIX target portfolio has a principal value of $400 million across an expected 282 unique bank loan issuers, with an expected weighted average exposure per issuer of approximately 0.33%. The potential total return for the investments, as estimated by the general partner of Master Fund III, is between 16% and 21% per annum (see Note 1).
Note 1: The General Partner's estimate of the potential total return for this investment in calculated across certain scenarios and subject to certain assumptions. This and any other references herein to potential future returns or distributions are targets and not forecasts and there can be no guarantee or assurance that they will be achieved.
LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Apex Fund and Corporate Services (Guernsey) Limited
Email: fairoaksgrp@apexgroup.com
Deutsche Numis Securities Limited
Nathan Brown, Investment Banking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Panmure Liberum Capital Limited
Chris Clarke, Investment Banking
DDI: +44 (0) 20 3100 2190
Email: chris.clarke@liberum.com
Fair Oaks Income Limited
Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.
The investment policy of the Company is to invest (either directly and/or indirectly through FOIF II LP and FOMC III LP) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.
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