Ares Strategic Income Fund’s leverage rises to 1.24x after $515M repurchase payout
The $9.9 billion nontraded BDC filled 38.2% of repurchase requests after investors tendered 13.1% of shares against a 5% quarterly cap.
At a glance
Ares Strategic Income Fund’s leverage rose to 1.24x after the $9.9 billion nontraded BDC paid roughly $515 million to meet third-quarter repurchase requests, our tracking shows.
Investors tendered 13.1% of the fund’s shares, but the quarterly cap permitted only 5%, so the fund filled 38.2% of the requests.
The $515 million payout reduced the fund’s aggregate net asset value by roughly the same amount, according to our records.
Ares Strategic Income Fund’s leverage rose to 1.24x after the $9.9 billion nontraded BDC paid roughly $515 million to meet third-quarter repurchase requests, our tracking shows.
Investors tendered 13.1% of the fund’s shares, but the quarterly cap permitted only 5%, so the fund filled 38.2% of the requests.
The $515 million payout reduced the fund’s aggregate net asset value by roughly the same amount, according to our records.
That NAV decline, by shrinking the fund’s equity denominator, likely accounts for at least part of the higher leverage ratio.
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