RDL Realisation (formerly Ranger Direct Lending) had an investment objective to seek to provide shareholders with an attractive return (target is 12-13% gross), principally in the form of quarterly income distributions (targeting 10% yield on the IPO price), by acquiring a portfolio of debt, such as loans, invoice receivables and asset financing arrangements, that have been originated or issued by businesses that serve as originators and distributors of this debt but are direct lending platforms rather than traditional retail or investment banks. Up to 10% of the portfolio could have been invested in the equity of these direct lending platforms.
The name change followed the decision to liquidate the portfolio and return the proceeds to shareholders over time.
You can access the fund’s website here
RDL : RDL Realisation