Eagle Point Institutional Income Fund (the "Fund") and Eagle Point Credit Management ("Eagle Point") announced that the Fund is now available to registered investment advisers and registered representatives through the Fidelity Alternative Investment Network®.
Fidelity's Alternative Investment Network is a no transaction fee platform, comprised of registered non-exchange traded alternative investments available to Fidelity clients.
"We are pleased to join the Fidelity Alternative Investment Network platform," said Daniel Ko, Senior Principal of Eagle Point and Portfolio Manager of the Fund. "Through our relationship with Fidelity, we are excited to make Eagle Point Institutional Income Fund even more accessible to investors through registered investment advisers and registered representatives."
The Fund's primary investment objective is to generate high current income, with a secondary objective to generate long-term capital appreciation by investing in Collateralized Loan Obligation ("CLO") equity and debt instruments, which are backed by broad pools of senior secured loans made primarily to U.S. companies. The Fund's underlying loan portfolio includes exposure to 1,245 different companies and is comprised of 97% senior secured loans and 97% floating rate loans (as of July 31, 2023). The Fund's annualized distribution rate is 9.3% and net asset value per share was $9.97 as of July 31, 2023.1
About Eagle Point Credit Management LLC
Eagle Point is a specialist asset manager focused on income-oriented credit investments including CLO securities, senior secured loans and Portfolio Debt Securities. Eagle Point and its affiliates have over $8.2 billion of total assets under management.2 The senior investment team is comprised of CLO industry specialists who have been in the market for the majority of their careers and who have established relationships with key market participants. Eagle Point was formed in 2012 by Thomas Majewski and Stone Point Capital.
Fidelity is an independent company, unaffiliated with Eagle Point or the Fund. Fidelity is a service provider to the Fund and Eagle Point. There is no form of legal partnership, agency affiliation, or similar relationship between the Fund, Eagle Point and Fidelity, nor is such a relationship created or implied by the information herein. Fidelity has not been involved with the preparation of the content supplied by the Fund and does not guarantee or assume any responsibility for its content. Investors should review the offering documents, including the description of risk factors contained in the Fund's Prospectus (the "Prospectus"), prior to making a decision to invest in the securities described herein. Fidelity Investments is a registered trademark of FMR LLC. Fidelity provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. 1103802.1.0