Fund Commentary – June
The Coral Cove Private Credit Fund (the “Fund”) returned 0.87% (Class I Units) in June. Annualized returns since inception (January 2021) are 10.22%.
Fund Insights
The Fund’s underlying portfolio (the “Portfolio”) (as at June 30,2024) has exposure to approximately 90 invoice factoring, ABL, equipment finance, real estate, lender finance, specialty finance or similar type loans. Presently, the geographic weighting of the portfolio is approximately 81% to the US and 19% to Canada. Of these positions, the largest portfolio weights are 46% to commercial finance, (which includes asset-based lending, real estate and equipment financing), 26.5% invoice factoring and 26.5% to lender finance.
Important Update: Fund Name Change
Dear Subscriber,
We are writing to inform you about an important update regarding the Coral Cove Private Credit Fund (the “Fund”). Effective July 17, 2024, the Fund’s name was changed from “Coral Cove Private Credit Fund Ltd.” to “Garrington Private Credit Fund Ltd.”.
The decision to change the Fund’s name was made to harmonize our marketing efforts to align with Garrington Capital. We believe the new name, Garrington Private Credit Fund, ties together a much clearer story of our approach and dedication to delivering superior investment performance.
The existing website www.CoralCovePrivateCredit.com will now redirect to www.GarringtonPrivateCredit.com.
Please see our new logo that you will begin to see on all communications and investor statements in the future:
We appreciate your interest in our Fund, and we look forward to potentially managing your investments with the same level of diligence and commitment that you have come to expect from us.
If you have any questions or require further information, please do not hesitate to contact our Investor Relations team at IR@garringtonprivatecredit.com.
Thank you for your understanding and support.
Best regards,
Toreigh Stuart
Managing Director, Garrington Private Credit (previously known as Coral Cove Private Credit)
April Fund Commentary