Ninepoint adds ABL distribution series to private debt fund

Chicago, July 21 – Ninepoint Partners LP announced that it will be adding a class T and a class FT distribution series to its largest private debt fund, the Ninepoint-TEC private credit fund.

Targeted monthly distributions are expected to be around 6% per year, according to a news release.

The private credit fund focuses on senior secured, over-collateralized loans. The portfolio is principally comprised of asset-based loans with most borrowers based in Canada and, to a lesser degree, the United States that are undergoing change or special situations.

The fund is sub-advised by Third Eye Capital Management Inc., an alternative lender specializing in providing innovative debt financing solutions to primarily middle-market Canadian companies.

The additional distribution series will be available to investors beginning July 30.

Ninepoint is an independent investment manager with headquarters in Toronto.

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