New Investments

RNS Number : 3173J

GCP Asset Backed Income Fund Ltd

27 June 2017

 

GCP Asset Backed Income Fund Limited ("GCP Asset Backed" or the "Company")

LEI 213800FBBZCQMP73A815

New investments

27 June 2017

The Company, which invests in asset backed loans, is pleased to announce four new investments of, in aggregate, £12 million secured against property assets in the UK, of which £11.5 million has been drawn. Three of the loans of, in aggregate, c.£7 million have been secured on a senior basis with the fourth loan secured on a subordinated basis.

The loans have been funded from the proceeds of the recent C share. Following these investments, the Company has advanced loans in respect of c.75% of the net proceeds of the C share issue, and has committed to invest c.90% of such net proceeds.

For further information, please contact:                                                                           

Gravis Capital Management Limited		+ 44 (0) 20 3405 8500
David Conlon	[e-mail]
Philip Kent	[e-mail]
Dion Di Miceli	[e-mail]
Cenkos Securities plc		[phone]
Tom Scrivens	[e-mail]
Oliver Packard	[e-mail]
Sapna Shah	[e-mail]
Buchanan		[phone]
Charles Ryland	[e-mail]
Vicky Hayns	[e-mail]

Notes to Editors

The Company

The Company is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.

 

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