Eagle Point Holds Final Close on its Defensive Income Fund III, Exceeding its Original Hard Cap

Eagle Point Credit Management LLC (“Eagle Point”), an innovative private credit investment manager, today announced that it has closed on $559 million in commitments to the firm’s Defensive Income Fund III (“DIF III”). DIF III exceeded its target of $400 million and original hard cap of $500 million.

DIF III is Eagle Point’s third closed-end fund in its Defensive Income Fund series. Within its Defensive Income Strategy, Eagle Point originates and invests in Portfolio Debt Securities (“PDS”), which are primarily debt securities issued by credit funds to finance a portion of their portfolios. Since the launch of the strategy in 2020, Eagle Point has originated and invested in over $8 billion of PDS across a range of credit funds, including private credit funds, closed-end funds, commercial mortgage REITs and BDCs. The strategy today has over $6 billion of AUM and a 11-person dedicated investment team.

“We’re pleased with the strong support from both existing and new investors,” said Dan Spinner, Senior Principal and Portfolio Manager for the Defensive Income Strategy. “We believe the continued strong demand for this strategy is a testament to our ability to generate returns in this segment of fund finance that are comparable to those of corporate direct lending but with less risk. We greatly appreciate the trust and confidence our investors place in us to deliver on expectations.”

DIF III was supported by a diverse group of limited partners, including public and private pension funds, endowments and foundations, insurance companies and family offices, reflecting broad institutional confidence in Eagle Point’s differentiated approach to PDS, an asset class the firm identified and defined.

About Eagle Point Credit Management

Eagle Point® is an investment manager focused on private credit strategies in inefficient markets, including Portfolio Debt Securities, Regulatory Capital Relief transactions, Infrastructure Credit, Strategic Credit investments, Specialty Finance and CLO securities. Founded by Thomas Majewski in partnership with Stone Point Capital in 2012, Eagle Point manages $14 billion on behalf of institutional and retail investors and has over 125 professionals. For more information, please visit www.eaglepointcredit.com.

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