DALLAS, July 10, 2015 /PRNewswire/ -- Behringer today announced that it has received board approval from the $157 million Vertical Capital Income Fund (VCAPX, the "Fund") to become the Fund's new adviser.
The Fund's previous adviser was terminated in June. The board reviewed potential advisers, ultimately selecting Addison, Texas-based Behringer effective July 6, 2015, on an interim basis pending shareholder approval.
"We are pleased to bring our real estate investing and related securities expertise – as well as our knowledge of the operational and regulatory requirements of publicly registered investment companies – to such an established Fund," said Bob Aisner, Chief Executive Officer at Behringer. "We look forward to working closely with the Fund's board to continue its record of providing shareholder value."
In this role, Behringer investment and operations specialists will develop and implement the Fund's investment strategy and will oversee the Fund's other service providers who are responsible for day-to-day operations.
"I fully support the board's recommendation to hire Behringer," said Bayard Closser, President of Vertical Capital Income Fund. "We expect that the Fund will benefit from the team's multi-year experience managing public and private real estate investment programs and strategies."
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.