NEW YORK, Aug. 4, 2015 /PRNewswire/ -- W. P. Carey Inc. and Guggenheim Partners, LLC announced today that the registration statement for Carey Credit Income Fund's (CCIF) institutional feeder fund, Carey Credit Income Fund – I (CCIF – I), was declared effective by the Securities and Exchange Commission.
CCIF is a non-traded business development company (BDC) that intends to invest primarily in large, privately-negotiated loans to private middle market U.S. companies, with a focus on senior secured debt investments. CCIF is advised by Carey Credit Advisors, LLC, an affiliate of W. P. Carey, as the advisor, and Guggenheim Partners Investment Management, LLC, an affiliate of Guggenheim Partners, as the sub-advisor. CCIF – I, a non-traded BDC feeder fund, intends to raise a maximum of $1 billion in a three-year best-efforts offering at an initial public offering price of $9.28 per share. The life of the CCIF – I feeder fund will be no more than 25 years.
Trevor P. Bond, Chief Executive Officer of W. P. Carey, stated: "With the growth we are seeing in the RIA marketplace, we are pleased to lead the industry in offering what we believe is the first non-traded BDC created specifically for these advisory platforms."
About W. P. Carey Inc.
W. P. Carey is a leading publicly-traded global net lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide. At June 30, 2015, W. P. Carey had an enterprise value of approximately $10.4 billion. In addition to its own portfolio of diversified global real estate, W. P. Carey manages a series of non-traded publicly registered investment programs with assets under management of approximately $10.4 billion. Its corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Furthermore, its portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows, enabling it to deliver consistent and rising income to investors for over four decades. For more information, please visit www.wpcarey.com.
About Guggenheim Partners, LLC
Guggenheim Partners is a global investment and advisory firm with more than $240 billion in assets under management as of June 30, 2015*. Across its three primary businesses of investment management, investment banking, and insurance services, it has a track record of delivering results through innovative solutions. Guggenheim's Corporate Credit team, which is comprised of over 100 dedicated investment professionals, has experience managing fixed-income portfolios, and manages a credit portfolio of approximately $68 billion as of June 30, 2015. Guggenheim's long-term investment focus combined with an emphasis on downside protection has made it the investment manager of choice for many insurance companies, public pensions, foundations, and high-net-worth investors. For more information, please visit www.guggenheimpartners.com.
Copies of the final prospectus for CCIF – I are available upon written request addressed to Carey Credit Income Fund, 50 Rockefeller Plaza, New York, NY 10020. This prospectus may also be obtained at the SEC's website at: www.sec.gov, or at the CCIF website at: www.careycredit.com.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Federal securities laws. These forward-looking statements include, but are not limited to, the statements made by Mr. Bond. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. CCIF and CCIF – I undertake no obligation to update any forward-looking statements contained herein to conform the statements to actual results or changes in their expectations. A number of factors may cause CCIF's or CCIF – I's actual results, performance or achievement to differ materially from those anticipated. For further information on factors that could impact CCIF or CCIF – I performance, please review CCIF's or CCIF – I's respective filings at the SEC website at www.sec.gov.
*Assets under management include consulting services for clients whose assets are valued at approximately $49 billion.
W. P. Carey Inc.
Ross & Lawrence
SOURCE Carey Credit Income Fund