BC Partners Announces Filing of New Opportunistic Credit Interval Fund Product
NEW YORK, 9 March, 2022 – Mount Logan Management LLC filed with the United States Securities and Exchange Commission to register the Opportunistic Credit Interval Fund (“OCIF” or the “Fund”), which will operate as a new interval fund. The filing was made on February 25, 2022.
All figures are in USD unless otherwise noted.
Mount Logan Management LLC is a wholly owned subsidiary of Mount Logan Capital Inc. ("Mount Logan”), a Canadian alternative asset management company that is focused on investing in public and private debt securities in the North American market. Mount Logan is managed by employees of BC Partners Advisors, L.P. (together with its global affiliates, “BC Partners”). BC Partners is an international investment firm with over $40 billion in assets under management focused on private equity, credit and real estate investments in Europe and North America. BC Partners was founded in 1986 and has offices in London, New York, Paris, and Hamburg.
The Fund’s primary investment objective is to produce current income and capital appreciation. The Fund will focus on two broad strategies: special situations and private capital. The special situations strategy will invest primarily in event driven and distressed debt, including liquidations and loan-to-own investments, and the private capital strategy will have a broad mandate including direct lending, regulatory capital trades, mortgage servicing rights (MSRs) and aircraft leasing deals, among others.
The Fund seeks to provide a full credit cycle investment offering that is expecting to utilize liquid and illiquid strategies to opportunistically allocate capital to fill the white space created as other capital sources retrench due to both secular and cyclical investing trends. The Fund’s flexible mandate is expected to allow the Adviser to propose solutions tailored to each borrower’s unique objectives.
Ted Goldthorpe, Head of BC Partners Credit, said, “We believe the launch of OCIF is an innovative solution that meets the evolving needs of individual investors. We are excited to provide accredited investors access to our institutional capabilities and deep expertise in opportunistic credit.”
The investment strategy of the Fund is consistent with that of BC Special Opportunities Fund II, a drawdown strategy which closed in December 2021 with $1.2bn in commitments. The Fund has filed for Class I Shares only with a management fee that has not been disclosed. The minimum initial investment is $1,000,000. It is expected that OCIF will offer to buy 20% of the outstanding interval fund shares annually at the prevailing NAV.
About BC Partners BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. Established in 1986, BC Partners has played an active role for over three decades in developing the European buy-out market. Today BC Partners investment teams from offices in Europe and North America work as integrated transatlantic teams aligned across our core sectors. Since its foundation, BC Partners has completed over 120 private equity investments in companies in its four core sectors – TMT, Industrial & Business Services, Healthcare and Consumer - with a total enterprise value of over €160 billion and is currently investing its eleventh private equity buyout fund. For further information, please visit https://www.bcpartners.com/
About BC Partners Credit BC Partners Credit was launched in February 2017 and has pursued a strategy focused on identifying attractive credit opportunities in any market environment. The platform leverages the broader firm's deep industry and operating resources to provide flexible financing solutions to middle-market companies, often in more complex and less competitive market segments. For further information, please visit https://www.bcpartners.com/credit-strategy