Loan PerformanceA new non-accrual, Trademark Global, took non-accruals to 1.2% of cost (from 0.4%) ahead of its July 2024 maturity.
Ownership IntentionsKayne Credit's recent manager stake sale to Bonaccord (on the eve of this IPO) is seen as a question mark over the owners' intention to 'cash out' at the expense of investors.
Shareholder ConcernsKayne Credit's recent manager stake sale to Bonaccord is a question mark over the owners' intention to 'cash out' at the expense of shareholders.