NexPoint Capital to invest in middle-market companies, floating-rate debt, CLOs via stock proceeds

By Toni Weeks

San Luis Obispo, Calif., May 20 - NexPoint Capital, LLC said it will conduct a public offering of stock, according to an N-2 filing with the Securities and Exchange Commission.

The newly organized, externally managed, non-diversified, closed-end management investment company seeks to generate current income and capital appreciation primarily through investments in middle-market companies, syndicated floating-rate debt of large companies and collateralized loan obligations.

James Dondero and Michael Gregory are the portfolio managers.

The company intends to sell on a continuous basis up to 150 million shares of common stock at a price that is currently $10.00 per share.

The sales load is 8%. Including a base management fee of 3%, total annual expenses are expected to be 6.6%.

Dallas-based NexPoint Advisors, LP will serve as the investment adviser.

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