Four Wood Capital Partners (FWCP) has launched a new closed-end fund, Eagle Growth & Income Opportunities Fund, which has priced its initial public offering and begun trading on the New York Stock Exchange under the symbol “EGIF.”
Four Wood Capital Advisors (FWCA), a subsidiary of FWCP, serves as Investment Advisor and Eagle Asset Management and Recon Capital Partners, LLC serves as Sub Advisors to the Fund. The Fund raised approximately USD121.5 million in its common share offering, excluding any exercise of the underwriters’ option to purchase additional shares. If the underwriters exercise that option in full, which may or may not occur, the Fund will have raised approximately USD140 million.
“In the current environment, where investors continue to search for intelligent access to market participation, a growing income stream and downside protection, we believe that an actively managed flexible portfolio strategy composed of equity and other income paying equity and debt securities with attractive yields, strong growth of earnings and the ability to perform well in a variety of market conditions should continue to be a valuable addition to many client portfolios. Eagle Asset Management has demonstrated a successful record in delivering returns in such strategies on behalf of investors for more than 30 years. As such, we strongly believe in our partnership with Eagle Asset Management, a premier institutional manager in the space, and their abilities as the Fund’s sub adviser,” says Steven A Baffico, Managing Partner & CEO of Four Wood Capital Partners LLC.
The Eagle Growth & Income Opportunities Fund s a newly organised, non-diversified, closed-end management investment company. The Fund’s investment objective is to provide total return through a combination of current income and capital appreciation. The Fund seeks to achieve its investment objective by investing, under normal market conditions, in dividend or other income paying equity securities and debt securities in US companies and non-US companies.
Lead Managers of the underwriting syndicate were Raymond James and Stifel.