Third Eye Capital Management has launched the Third Eye Capital Alternative Credit Trust (the ACT Fund), an open-ended unincorporated investment trust established under the laws of the Province of Ontario.
The ACT Fund will be managed by Third Eye Capital with the principal investment objective to achieve superior risk-adjusted returns with minimal volatility and low correlation to most other asset classes through direct investments in private secured loans of primarily Canadian companies.
Third Eye Capital currently sub-advises the Third Eye Capital Credit Opportunities Fund in Luxembourg and the Sprott Private Credit Trust in Canada. Similar to these portfolios, the ACT Fund will invest in privately-negotiated senior, secured loans of primarily Canadian companies that are ignored or misunderstood by traditional financing sources.
“We are excited to be launching the ACT Fund for Canadian investors, an offering unlike any other in Canada,” says Arif N Bhalwani, Third Eye Capital’s co-founder and chief executive. “Against a backdrop of historically low interest rates and equity market volatility, the ACT Fund is an ideal investment for investors seeking yield, portfolio diversification, and unique total returns that are not available in the public markets.”
Units of the fund will initially be offered at a price per unit of CAD10.00 until 28 June, with a minimum initial subscription amount of CAD150,000 or CAD10,000 for subscribers who qualify as “accredited investors”. The ACT Fund is only available to Canadian investors.