Flat Rock Opportunity Fund is a continuously offered, non-diversified, closed-end management investment company registered under the 1940 Act and organized as a Delaware statutory trust. Structured as an interval fund, it seeks to generate current income and, as a secondary objective, long-term capital appreciation. The Fund invests primarily in the equity and, to a lesser extent, the junior debt tranches of collateralized loan obligations (“CLOs”) backed by pools of below investment grade senior secured loans. It may also opportunistically invest in business development company securities, senior secured loans, fixed income instruments, and investment funds providing exposure to similar assets. Flat Rock Global, LLC serves as investment adviser. To provide limited liquidity, the Fund conducts quarterly repurchase offers of no less than 5% of outstanding shares at net asset value, typically 5%. Shares are continuously offered through Ultimus Fund Distributors, LLC without required minimum investment amounts.
News and Notices
Flat Rock Global, LLC
Jul 02, 2018
Interval CEF
'40 Act
Quarterly
Daily
USD
December 31
News and Notices
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Jan 06, 2026
17:08
Debt Issuance
Flat Rock Opportunity Fund added Nomura Securities International repurchase facility agreements with $100 million maximum size, 24-month term and 305 basis-point spread. The fund granted asset security interests and is subject to one-business-day deleveraging above a 40% aggregate-purchase-price-to-market-value threshold.
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Oct 06, 2024
17:00
Debt Issuance, Marketing Material
Flat Rock Opportunity Fund entered a 24-month repurchase transaction financing arrangement with Nomura Securities International, providing up to $100 million at 3-month Term SOFR plus 305 basis points. Investors face added leverage, expense, volatility and counterparty risks from reverse repurchase agreements.
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May 15, 2025
16:54
Ownership, Personnel
Flat Rock Opportunity Fund Chief Financial Officer Michael Charles Stewart disclosed beneficial ownership of 0 Common Shares of Beneficial Interest as of September 15, 2026.
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Sep 15, 2024
16:51
Marketing Material, Personnel
Flat Rock Opportunity Fund announced Ryan Ripp resigned as Chief Financial Officer and Michael Stewart was appointed Chief Financial Officer and Treasurer, each effective September 15, 2026. Investors should disregard prior references to Ryan Ripp as Chief Financial Officer.
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May 14, 2026
10:17
Redemption
Flat Rock Opportunity Fund announced a quarterly offer to repurchase 5% of outstanding shares for cash at net asset value, with requests due September 18, 2026. Shareholders receive payment within seven calendar days after pricing, and no repurchase fee applies.
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Dec 07, 2025
14:29
Compliance
Flat Rock Opportunity Fund reported its annual proxy voting notice report for report calendar year 2026, signed by Chief Executive Officer Robert K. Grunewald on August 7, 2026.
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Jul 26, 2023
17:14
Marketing Material, Redemption, Subscription
Flat Rock Opportunity Fund updated its June 29, 2026 prospectus for unlimited shares at net asset value, reporting $419 million in net assets. Investors have no minimum investment and quarterly repurchase offers typically limited to 5% of outstanding shares.
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Mar 14, 2025
09:51
Redemption
Flat Rock Opportunity Fund announced a quarterly repurchase offer for up to 5% of its outstanding Shares, with the offer period running from May 14, 2026 through June 18, 2026 and NAV-based pricing using the June 18, 2026 pricing date. Shareholders may receive cash proceeds within seven days, subject to pro rata purchase if tenders exceed the offer amount.
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Apr 30, 2024
16:15
Distribution, Marketing Material, Redemption, Subscription
Flat Rock Opportunity Fund updated its registration statement and preliminary prospectus to offer unlimited common shares in a continuously offered interval fund, with quarterly repurchases of at least 5% at NAV and monthly distributions.
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Mar 29, 2025
17:30
Fee, Marketing Material, Redemption
Flat Rock Opportunity Fund’s prospectus updates its continuous offering terms, including a 1.38% management fee, 1.73% incentive fee estimate, and 4.77% total annual expenses, while reaffirming quarterly repurchases of at least 5% of shares at NAV. Shares remain subject to limited liquidity through the repurchase program.
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Preview
Flat Rock Opportunity Fund
Flat Rock Global, LLC is responsible for managing Flat Rock Opportunity Fund.
Flat Rock Opportunity Fund launched in 2018.
Flat Rock Opportunity Fund is registered as a '40 Act fund.
Flat Rock Opportunity Fund is structured as a Interval CEF fund.
You can invest in Flat Rock Opportunity Fund by meeting its eligibility requirements and subscribing through the fund's offering process or an approved platform. Visit their website for more details.
You can invest in Flat Rock Opportunity Fund daily, subject to eligibility and fund subscription deadlines.
You can redeem shares of Flat Rock Opportunity Fund quarterly, subject to redemption limits and notice requirements.
Shares of Flat Rock Opportunity Fund can be purchased in USD.
Flat Rock Opportunity Fund's fiscal year end is December 31.
Flat Rock Opportunity Fund's net asset value was $419.2 million and its portfolio had a fair value of $454.2 million as of December 31, 2025.
Among other deal types, Flat Rock Opportunity Fund primarily makes Direct Investments.
Among other asset classes, Flat Rock Opportunity Fund primarily invests in CLO-CDO-CMO.
Among other regions, Flat Rock Opportunity Fund primarily invests in the USA and Globally.
Flat Rock Opportunity Fund charges a 1.38% annual management fee, which is calculated based on NAV.
There is no minimum initial investment for FROPX shares, allowing you to invest any amount.
There is no minimum subsequent investment for FROPX shares, allowing you to invest any amount.
You will be subject to paying an early repurchase/redemption fee of 0%.
Flat Rock Opportunity Fund's FROPX share class generated an annualized 1-month return of -1.99% and 5-year return of 10.34% as of December 31, 2025.
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