ADDISON, Texas, Nov. 18, 2015 /PRNewswire/ -- Behringer Advisors, LLC ("Behringer") announced today that it has received approval from the board of the $160 million Vertical Capital Income Fund (VCAPX, the "Fund") to become the Fund's new adviser.
Shareholders ratified Behringer's role as new adviser by way of a majority vote, which was confirmed by the Fund's Board of Trustees.
"Recently, Behringer was pleased to announce that the Fund continues to outperform its benchmark, and furthermore, it has continued to perform well since Behringer became the interim adviser," said Michael Cohen, President of the Fund and President of Behringer Harvard Holdings, LLC—parent company of Behringer Advisors. "The support of shareholders, their advisors and the Board represents confidence in our capabilities to effectively manage the Fund's unique investment strategy."
About Vertical Capital Income Fund
Vertical Capital Income Fund is a closed-end, continuously offered interval fund that primarily invests in residential whole mortgage loans and residential whole loans secured by deeds of trust. As a closed-end interval fund, it provides limited liquidity on a quarterly basis. The investment objective of the Fund is to seek income.
Behringer creates and manages real estate investments through public and private fund structures, joint ventures and separately managed accounts. The company also offers strategic advisory, asset management, tax-deferred exchange and capital markets solutions. Investments sponsored and managed by the Behringer group of companies have invested into more than $11 billion in assets. For more information, call 214.655.1600 or visit behringerinvestments.com.
This release contains forward-looking statements relating to the business and financial outlook of Vertical Capital Income Fund that are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. There is no assurance that the Fund will achieve its investment objective. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release.
Investment company shares involve risk including the possible loss of principal. There is a risk that issuers will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. In general, the price of a fixed-income security falls when interest rates rise. A specific security can perform differently from the market as a whole for reasons related to the issuer, such as an individual's economic situation, the Fund's net asset value may be more volatile because it invests in notes of individuals. Securities may be subject to prepayment risk because issuers are typically able to prepay principal. The Fund will not invest in real estate directly, but, because the Fund will invest the majority of its assets in securities secured by real estate, its portfolio will be significantly impacted by the performance of the real estate market and may experience more volatility and be exposed to greater risk than a more diversified portfolio. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund's net asset value.
Investors should carefully consider the investment objectives, risks, charges and expenses of Vertical Capital Income Fund. This and other important information about the Fund is contained in the Prospectus, which can be obtained by calling 1-866-277-VCIF (866-277-8243). The prospectus should be read carefully before investing. Vertical Capital Income Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Wholesale distribution services are provided by Provasi Capital Partners LP, member FINRA/SIPC. Vertical Capital Income Fund, Behringer Advisors, LLC, and Provasi Capital Partners LP are not affiliated with Northern Lights Distributors, LLC.