CION Investment closes strategic joint venture Senior Loan Fund Partners to invest in first-lien loans
CION•CION Investment closed a joint venture with institutional investors, capitalized with $125 million in senior secured notes and $59.7 million in membership interests, to invest primarily in senior secured first-lien loans to U.S. middle-market companies.
1. Joint venture formed
CION Investment Corporation closed Senior Loan Fund Partners, LLC, a strategic joint venture with institutional investors. The vehicle’s proceeds funded its purchase from CION of a 20-loan first-lien portfolio at fair value, for an implied price of $180 million, or 99.8% of par.
