August 7, 2020
Redemption Update
regarding the
Bridging Income Fund and Bridging Mid-Market Debt Fund
(collectively, the “Funds”)
With the closing of further loans at par, Bridging Finance Inc. (“Bridging”) is now in a position to payout the remaining outstanding redemptions from the Bridging Mid-Market Debt Fund with an initial trade date of April 30, 2020 and a further 11% of the outstanding redemptions on the Bridging Income Fund with an initial trade date of April 30, 2020. The redemptions are expected to be paid out by the end of next week.
This takes the total repayment of April 30 redemptions on the Bridging Mid-Market Debt Fund to 100% while the Bridging Income Fund has paid out approximately 27%.
Bridging is also in the process of finalizing the last payment of outstanding redemptions from the Bridging Mid-Market Debt Fund with a trade date of May 29, 2020 and expect to have this completed by the end of August.
In the coming weeks, Bridging will be in the process of selling more loans at par within the Bridging Income Fund and we hope to have the temporary suspension removed by the beginning of September.
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. (August/2020)