Subject: DIV
Flat Rock Opportunity Fund Announces Distribution Increase
NEW YORK, Jan. 6, 2021 /PRNewswire/ -- Flat Rock Opportunity Fund (the "Fund"), a closed-end interval fund investing in CLOs, announced that its Board of Directors has declared an increase in its monthly distribution to $0.175 per share. Based upon the closing price of the Fund as of December 31st, this distribution increases the effective annual distribution rate by 4.8%, from 10.2% to 10.7%.
This increase follows over two years of distributions at a consistent rate of $0.167 per share since the Fund's inception in 2018.
"Flat Rock Opportunity Fund's success has been driven through our adherence to our key investment pillars; most notably a capacity constrained approach that allows the Fund to be highly selective, as well as our capability to invest in middle market CLOs and leverage a flexible investment mandate. We are pleased that this success allows us to increase our monthly distribution rate to our shareholders," said Robert Grunewald, Founder and CEO of the Fund's advisor, Flat Rock Global, LLC.
About Flat Rock Opportunity Fund:
Flat Rock Opportunity Fund invests primarily in the equity and, to a lesser extent, in the junior debt tranches of CLOs. CLOs provide exposure to senior secured loans on a leveraged basis. The Fund's investment objective is to generate current income and, as a secondary objective, long-term capital appreciation. Flat Rock Opportunity Fund is structured as an Interval Fund and can be purchased using the ticker FROPX.
To learn more about Flat Rock Opportunity Fund's performance, read the Flat Rock Opportunity Fund December Fact Card.
About Flat Rock Global, LLC:
Flat Rock Global is an alternative credit manager investing in areas of the credit markets we believe are less efficient, with the dual objective of preservation of capital and generation of current income. Flat Rock funds are available exclusively to RIAs, Family Offices, and Institutional Investors. To learn more about the firm and our funds, please visit www.flatrockglobal.com or reach out to Kyle McGowan at [email protected].
Consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. Other information about the Fund may be obtained at www.flatrockglobal.com/opportunity-fund.html. This material must be preceded or accompanied by a prospectus. ALPS Distributors Inc. serves as FROPX's principal underwriter, within the meaning of the 1940 Act, and will act as the distributor of FROPX shares on a best efforts' basis, subject to various conditions.
SOURCE Flat Rock Global
These press releases may also interest you
|
News published on and distributed by:
