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Fair Oaks Income Fund To Buy USD10 Million In CLO Notes

August 11, 2014

Sam Unsted

LONDON (Alliance News) - Fair Oaks Income Fund Ltd Monday said Fair Oaks Income Fund LP has agreed a deal to buy USD10 million in B rated notes of OZLM8 CLO Ltd, a new collateralised loan obligation backed by a portfolio of US broadly syndicated secured loans.

The fund's general partner has estimated the potential total return from the investment of 10-12% per year. The portfolio is managed by Och-Ziff Capital Management Group, the US hedge fund manager.

"We are encouraged by the deal flow and market dynamics observed since the IPO, and are confident that the Fair Oaks Income Fund can deliver against its target of being fully invested within 3 to 6 months," said Fair Oaks Capital Co-Founder Miguel Ramos Fuentenebro.

Fair Oaks Income Fund shares were untraded on Monday, quoted at 1.0175 pence.

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Source: Alliance News

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