Alternative Credit Income Fund's 5% quarterly repurchases would pause for a year before the merged company begins discretionary 2.5% tenders.
Shareholders submitted an estimated $4.3 billion of Q3 repurchase requests, representing around 10% of shares outstanding, as of June.
The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.
In connection with the deal, the surviving BDC amended a JPMorgan financing facility, cutting Tranche A commitments from $800 million to $500 million and converting Tranche B into a revolver.
GCRED will accept all of the 4.8% in withdrawal requests received at its June 30 NAV, down from 8.5% in the prior quarter.
Cox Capital Retail Secondaries Fund I is currently running cash tender offers for five non-traded BDCs managed by Blue Owl, Ares, Apollo, and BlackRock.
