"Octagon's proposals do not amount to a real plan forward," XAI president Kimberly Flynn exclusively told EvergreenLink.
The transaction forms part of a broader liquidity plan tied to shareholder approval of Rockford Tower as the CLO-focused fund's new sub-adviser.
The proposed transaction will bring Mount Logan's combined interval fund AUM to approximately $460 million, with closing expected in Q1 2027.
The Janus Henderson affiliate has partnered with Tradable to offer a blockchain-based feeder fund investing in the Privacore VPC Asset Backed Credit Fund.
CFO Kirill Bouek's resignation follows the departure of the non-traded BDC's President, Raymond Barrios, in August.
Launched in 2022, the non-traded vehicle invests across venture capital, private credit, and private equity.
The vote follows the board's termination of Octagon and clears the condition for the fund's previously announced liquidity plan.
Shareholders in the closed-end traded fund have until August 6 to approve the King Street sub-advisory agreement, as former sub-advisor Octagon denounced the decision arguing insufficient support.
The $580 million fund's former sub-adviser Octagon called the proposed tender offers "vote bait," while Egan-Jones maintained its recommendation against the proposed appointment.
The contested proxy campaign in the $580 million CLO fund was sparked by the board's decision to terminate Octagon as sub-adviser and propose Rockford Tower as its replacement.
