Eagle Point Credit Management LLC (“Eagle Point Credit” or the “Adviser”), a specialist credit asset manager with over $10 billion of assets under management,1 announced that Eagle Point Institutional Income Fund (the “Fund”) generated a net return of 9.9% over the 12-month period ending October 31, 2024.2 In addition, the Fund’s total assets, inclusive of available borrowings under a revolving credit facility, have exceeded $150 million. During the month of October 2024, the Fund completed its 28th consecutive monthly distribution payment, which represented a 10.2% annualized distribution rate.3 The Fund’s net asset value per share as of October 31, 2024 was $9.96.
The Fund’s sources of financing include a revolving credit facility and term preferred stock, which trades on the New York Stock Exchange under the ticker symbol “EIIA.”
The Fund’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in diversified pools of senior secured loans called collateralized loan obligations (“CLOs”). As of October 31, 2024, the Fund’s portfolio of 74 CLO equity investments provided exposure to 1,365 different U.S. companies across 61 different industries.4
The Fund is a non-traded closed-end fund registered under the Investment Company Act of 1940 and it currently offers its shares on a continuous basis via monthly closings. Please refer to the Fund’s website at www.EPIIF.com for additional information.
About Eagle Point Credit Management LLC
Eagle Point Credit, based in Greenwich, Connecticut, is a specialist investment manager focused on income-oriented credit investments in niche and inefficient markets, including CLO Securities, Portfolio Debt Securities,5 Regulatory Capital Relief transactions and Strategic Credit investments. As of September 30, 2024, Eagle Point Credit and its affiliates managed over $10 billion of assets under management (including committed but undrawn capital). Learn more about Eagle Point Credit at www.eaglepointcredit.com.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Fund’s filings with the U.S. Securities and Exchange Commission (“SEC”). The Fund undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Securities Disclosure
This press release is provided for informational purposes only, does not constitute an offer to sell securities of the Fund and is not a prospectus. Such offering is only made by the Fund’s prospectus, which includes details as to the Fund’s offering and other material information. Securities are offered through Eagle Point Securities LLC, a member of FINRA and SIPC, and an affiliate of Eagle Point Credit. Investing in the Fund involves risk of loss of some or all principal invested. Speak to your tax professional prior to investing. This is neither an offer to sell nor a solicitation to purchase any security. Please refer to the prospectus available at www.EPIIF.com for additional information about the Fund. An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing.
Risk Disclosures and Important Information
• The Fund is designed as a long-term investment, not a trading vehicle.
• Past performance is not indicative of, or a guarantee of, future performance.
• Shares of the Fund are not traded on an exchange and therefore the Fund’s shares have no liquidity.
• The Fund invests a significant portion of its assets in CLO equity and junior debt securities; these may have more acute risks than other types of credit instruments.
• An investment in the Fund is speculative and entails substantial risk, including the possible loss of some or all of one’s investment. There can be no assurance that the Fund’s investment objectives will be achieved.
• An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program.
• The Fund utilizes leverage, which uses various financial instruments or borrowings to increase potential return on the Fund’s investments. The use of leverage involves risk, including possible high volatility and declines of the Fund’s NAV, as well as fluctuating dividends and distributions.
• The Fund invests primarily in below-investment grade or unrated securities, commonly called “high yield” or “junk” bonds. Such investments may not pay interest or repay principal when due.
