June 30, 2020
Redemption Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)
As first communicated on June 22, 2020, Bridging Finance Inc. (“Bridging”) is now in a position to payout all remaining redemptions from the Bridging Income Fund with an initial trade date of March 31, 2020. The redemptions will be paid out by the end of this week.
Once all of the March 31 redemptions are paid, Bridging will begin paying out the April 30 redemptions on a pro-rata basis. Bridging has closed on the sale of some loans this week and will pay out approximately:
10% of April 30 redemptions from the Bridging Income Fund
19% of April 30 redemptions from the Bridging Mid-Market Debt Fund
These redemptions will also be paid out by the end of this week.
Upon the repayment of certain loans and syndicated loan proceeds being received by Bridging in the coming weeks, Bridging will continue paying out the outstanding redemptions as these events occur.
As a reminder, the LP versions of the Bridging Income Fund and Bridging Mid-Market Debt Fund are open for purchase subscriptions.
We thank you for your support during these unprecedented times as we remain focused on working through these redemptions while continuing to deliver the consistent and uncorrelated returns your clients have become accustomed to.
Ian Baele, Senior Vice President, Sales – C: (416) 937-7641, ibaele@bridgingfinance.ca
Scott Miller, Director, Sales – C: (647) 984-7524, smiller@bridgingfinance.ca
David Sharpe, Chief Executive Officer – C: (647) 981-5658, dsharpe@bridgingfinance.ca;
Disclaimer:
The Funds are generally exposed to several risks. See the offering memorandum of the Funds for a complete description of these risks. The Funds are offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about each Fund including their investment objectives and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Funds and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstances. This communication is for educational purposes and does not constitute investment advice or an offer to sell or a solicitation to purchase securities of the Funds.
Bridging Finance is the manager of the Funds. Prepared by Bridging Finance Inc. (May/2020)