Active Value Creation – Involvement in driving operational changes and providing actionable strategic advice to borrowers, in order to maximize value with equity participation.
Senior Secured – Security interests are primarily 1st lien and at the top of the capital structure.
Fully Collateralized – Primarily asset-based loans that are fully supported by critical business assets including accounts receivable, inventory, property, plant & equipment, mineral interests and intellectual property.
Experienced Lending Team – Seasoned, multidisciplinary professionals with significant and diverse experience at major financial institutions with backgrounds in lending, operating and investing in successful companies.
The investment objective of the Fund is to achieve superior risk-adjusted returns with minimal volatility and low correlation to most traditional asset classes, primarily by investing in a portfolio comprised of asset-based loans of companies based primarily in Canada and/or the United States.
On February 28, 2022, the Fund suspended subscriptions and redemptions retroactive to February 1, 2022. The Fund remains closed to redemptions and subscriptions until completion of the proposed Fund restructuring. Please see Appendix A below for details or download here.
Terms are indicative and subject to change:
|Series A †|
|Series F †|
†Closed to new investments
|Fund Type||Open-ended unincorporated Investment Trust|
|Strategy Inception Date||June 2010|
|Fund Inception Date||September 30, 2022|
|Distributions||Distributions will be automatically reinvested in additional Units at the Net Asset Value on the date of distribution, unless a Unitholder elects, by written notice to the Manager, to receive such distribution in cash.|
|Registered Tax Plan Status||Eligible|
|Management Fee||Class A1 Units: 2.45%
Class F1 Units: 1.45%
Class I Units: Fee determined by agreement between the Manager and Subscriber
|Management Fee Discount/Rebate||For calendar year 2022 and 2023, if each class of units does not reach a net 6% annualized return, an amount up to the full management fee will be rebated.|
|Performance Fee||See Offering Memorandum|
|Minimum Initial Investment||$10,000 accredited
|Minimum Subsequent Investment||$5,000 CDN|
|Minimum Investment Term||
12 months minimum hold.
Unitholders that redeem units within 12 months of re-opening (September 30, 2022 to September 30, 2023) will be redeemed at 95% of NAV (5% ERF) of valuation date.
After September 30, 2023 Unitholders that redeem units within 12 months of their initial purchase date will be redeemed at 98% of NAV (2% ERF) on valuation date.
All Early Redemption Charges will go to the Fund, not the Manager.