NEW YORK, March 15, 2017 /PRNewswire/ -- Priority Income Fund, Inc. ("the Fund") announced today that the Fund has now surpassed the milestone of $250 million in assets under management. The Fund is designed to provide investors with current income from a portfolio invested in broad pools of senior secured loans made primarily to U.S. companies that meet specified credit and diversity criteria.
"We are pleased to reach this important milestone," said Nishil Mehta, a principal of Prospect Capital Management L.P. "We believe our commitment to providing investors with access to a strategy that offers attractive income potential, while also acting as an important portfolio diversifier, has been critical to this achievement."
About Priority Income Fund
Priority Income Fund, Inc., is a registered closed-end fund that was created to acquire and grow an investment portfolio primarily consisting of senior secured loans or pools of senior secured loans known as collateralized loan obligations (CLOs). Such loans will generally have a floating interest rate and include a first lien on the assets of the respective borrowers, which typically are private and public companies based in the United States. For more information, visit priority-incomefund.com.
About Prospect Capital Management L.P.
Headquartered in New York City, Prospect is an SEC-registered investment adviser that, along with its predecessors and affiliates, has a more than 25-year history of investing in and managing high-yielding debt and equity investments using both private partnerships and publicly traded closed-end structures. Prospect and its affiliates employ a team of approximately 100 professionals who focus on credit-oriented investments yielding attractive current income. Prospect has $7.6 billion of capital under management (including undrawn credit facilities) as of December 31, 2016. For more information, call 212.448.0702 or visit prospectcapitalmanagement.com.
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the future performance of Priority Income Fund, Inc. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. Any such statements, other than statements of historical fact, are highly likely to be affected by unknowable future events and conditions, including elements of the future that are or are not under the control of Priority Income Fund, Inc. and that Priority Income Fund, Inc. may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Priority Income Fund, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Forward-looking statements relating to the business and financial outlook of Priority Income Fund, Inc. 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.
All investments involve risk including the possible loss of principal.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the investment company before investing. The prospectus contains this and other information and should be read carefully before investing. For more information about the Fund, please contact your financial advisor. Additional details about this investment opportunity, including a copy of the current prospectus, are available at priority-incomefund.com.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED ANY OFFERING OF PRIORITY INCOME FUND, INC. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Priority Income Fund, Inc. program securities are offered by Provasi Capital Partners LP, a related entity to the co-sponsor, as dealer manager.
To obtain a prospectus, please contact Provasi Capital Partners LP at 866.655.3600. Additional details about this investment opportunity, including a copy of the current prospectus, are available at priority-incomefund.com.
For Priority Income Fund, Inc.
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SOURCE Priority Income Fund, Inc.