GLI Finance has sold its entire stake in Fair Oaks Income Fund (34,298,425 shares) to a fund advised by Coller Capital. GLI Finance was a founder shareholder in Fair Oaks Income. Its shares were received in exchange for the injection of GLI Finance’s CLO investments into Fair Oaks’ portfolio. With this deal, GLI Finance finally severs its connection with its old CLO portfolio.
The shares were subject to a two year lock up – this expires in August 2016. As part of the deal, the Coller Capital fund has agreed to be subject to the same lock up. this arrangement is reflected in the price that the shares changed hands at.
GLIF / FAIR : GLI sells Fair Oaks stake