HRC Financial Group Secures New Partnership to Distribute Two Credit Funds

Opportunistic Credit Interval Fund (SOFIX) and Alternative Credit Income Fund (RCIIX) will now be offered by HRC Financial Group

NEW YORK, October 24, 2023--(BUSINESS WIRE)--HRC Financial Group ("HRC"), a specialist in the creation and marketing of registered investment companies, separately managed accounts and alternative investments that meet investors’ unfulfilled or underserved needs, announced today a partnership with Sierra Crest Investment Management, a credit-focused subsidiary of BC Partners, a leading global investment firm, and Mount Logan Management, a subsidiary of Mount Logan Capital Inc.

Under the new agreement, HRC will now offer investors the Opportunistic Credit Interval Fund ("OCIF") (Ticker: SOFIX) and Alternative Credit Income Fund ("ACIF") (Tickers: RCIIX, RCIAX, RCIWX, RCICX, RCILX).

OCIF, an all-weather total return credit strategy targeting private originations and secondary investments in the U.S. and European middle markets, aims to generate attractive risk-adjusted returns through three unique investment approaches: private lending and structured credit, asset-based lending and dislocated liquid credit.

The fund’s primary objective is to produce capital appreciation and current income while targeting quarterly distributions, and it seeks to provide a full credit cycle investment offering that utilizes liquid and illiquid strategies to opportunistically allocate capital amid both secular and cyclical investing trends.

ACIF attempts to generate above-market yield and above-market returns by investing across the corporate credit universe. Tilting between private lending and discounted public market securities, the fund attempts to deliver returns throughout the credit cycle. Through 90-day redemptions, the fund attempts to protect principal by limited forced sales and endeavors to purchase dislocated securities during periods of market stress.

"We’re thrilled to work with the BC Partners team to distribute these two funds, as our firm expands its offerings in the private credit space," said Tim Reick, CEO of HRC. "Our leadership team has been fortunate to work together through numerous market cycles. We’re excited to apply our expertise and offer access to differentiated private credit strategies that have historically been unavailable to retail investors, especially given how the asset class has grown over the past decade. BC Partners has established itself as a global leader across private markets, and we believe our work together will continue to meet the needs and interests of our clients."

Ted Goldthorpe, Head of BC Partners Credit adds: "This new collaboration with HRC is a natural partnership, as our teams share a focus on providing investors with innovative portfolio solutions that address the needs of today’s modern market."

"The ACIF is among, if not the, first corporate credit interval funds, with a track record spanning nearly eight years," said Mike Terwilliger, Portfolio Manager for ACIF. "We are thrilled to partner with HRC to deliver our funds to a wider investment universe."

"The era of double-digit equity returns is in the rear-view mirror," Terwilliger continued. "Fixed income investments will play an increasingly important role in driving returns for investors going forward. HRC will ensure that more investors can access the differentiated credit strategies of ACIF and OCIF."

About HRC Financial Group

The HRC Financial Group of companies consists of HRC Fund Associates, LLC, Member FINRA/SIPC, HRC Portfolio Solutions, LLC, and affiliate Liberty Street Advisors, Inc. The HRC Financial Group provides an end-to-end suite of services to investment managers wishing to create new mutual funds, closed-end funds or closed-end interval funds. These services can include fund organization and origination, national account coverage, sales and marketing, and ongoing servicing. HRC specializes in selling and servicing investment funds and SMA wrap and dual contract products to the major wirehouse and RIA brokerage channels.

For further information, visit https://hrcfinancialgroup.com/

About BC Partners

BC Partners is a leading investment firm with over $40 billion in assets under management across private equity, private debt, and real estate strategies. Established in 1986, BC Partners has played an active role for over three decades in developing the European buy-out market. Today BC Partners integrated transatlantic investment teams work from offices in Europe and North America and are aligned across our four core sectors: TMT, Healthcare, Business Services & Industrials, and Consumer. Sierra Crest Investment Management LLC, a subsidiary of BC Partners, is the investment advisor to ACIF.

For further information regarding BC Partners, visit https://www.bcpartners.com/

About Mount Logan Capital

Mount Logan Capital Inc. ("Mount Logan") is a Canada-based asset manager created to source and execute on credit opportunities in North America. Mount Logan Management LLC ("MLM"), investment advisor to OCIF and a subsidiary of Mount Logan, is associated with the Credit Business of BC Partners. BC Partners, through a subsidiary, provides staffing to MLM pursuant to a staffing agreement.

For further information regarding Mount Logan, visit https://www.mountlogancapital.ca/

HRC Financial Group Important Disclosures

HRC Fund Associates, LLC, member FINRA / SIPC, and HRC Portfolio Solutions, LLC (together, "HRC"), are marketing firms that solicit business for third-party asset managers ("AMs") through financial professional intermediaries ("Intermediaries"). Pursuant to written agreements, HRC’s compensation from the AMs is based upon a percentage of the revenue the AMs receive for the management of certain portfolios. Investors are not charged by the AMs for the cost of obtaining their accounts through this process, nor is there any differential in the level of advisory fees charged by the AMs that is attributable to the solicitation arrangements between HRC and the AMs. Some mutual funds represented by HRC Fund Associates, LLC are advised by affiliate Liberty Street Advisors, Inc. Due to the compensation it receives from the AMs, HRC has a conflict of interest when soliciting Intermediaries to invest in, or to remain invested in, the AMs’ portfolios, on behalf of their clients, as HRC’s compensation is based upon assets raised and retained.

FINRA BrokerCheck: BrokerCheck provides information on the professional background, business practices, and conduct of HRC Fund Associates, LLC, a FINRA member firm, and its associated persons.

General Market Risk: Investing in securities is subject to risk, including the possible loss of principal invested. In general, a security’s value is affected by activities specific to the company as well as the general market, economic and political conditions.

Opportunistic Credit Interval Fund Important Disclosures

An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. To obtain a copy of the prospectus containing this and other information, please call (833) 404-4103 or download the file from www.opportunisticcreditintervalfund.com. Read the prospectus carefully before you invest.

Investing involves risk. Investment return and the principal value of an investment will fluctuate, and an Investor’s shares, when redeemed, may be worth more or less than their original cost. The Fund is subject to the general risks associated with investing in debt and loan instruments, including market, credit, liquidity, and interest rate risk. The Fund is subject to management and other expenses, which will be paid by the Fund. Because of the risks associated with the Fund’s ability to use leverage, an investment in the Fund should be considered speculative and involving a high degree of risk, including the risk of a substantial loss of investment.

There currently is no secondary market for the Fund's shares and the Fund expects that no secondary market will develop. Shares of the Fund will not be listed on any securities exchange, which makes them inherently illiquid. An investment in the Fund's shares is not suitable for investors who cannot tolerate risk of loss or who require liquidity, other than the liquidity provided through the Fund's repurchase policy. Limited liquidity is provided to shareholders only through the Fund's quarterly repurchase offers, regardless of how the Fund performs. The Fund's distributions policy may, under certain circumstances, have certain adverse consequences to the Fund and its shareholders because it may result in a return of capital, resulting in less of a shareholder's assets being invested in the Fund, and, over time, increase the Fund's expense ratio. Any invested capital that is returned to the shareholder will be reduced by the Fund's fees and expenses, as well as the applicable sales load. Investments in lesser-known, small and medium capitalization companies may be more vulnerable than larger, more established organizations. The sales of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund's NAV.

Alternative Credit Income Fund Important Disclosures

An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. To obtain a prospectus containing this and other information, please call (833) 404-4103 or download the file from www.AltCIF.com. Read the prospectus carefully before you invest. The Fund is distributed by ALPS Distributors, Inc. (ALPS Distributors, Inc. 1290 Broadway, Suite 1000, Denver, CO 80203). Sierra Crest Investment Management LLC (the Fund's investment adviser), its affiliates, ALPS Distributors, Inc., and U.S. Bank, N.A. are not affiliated.

Investing involves risk. Investment return and principal value of an investment will fluctuate, and an investor’s shares, when redeemed, may be worth more or less than their original cost. Alternative investment funds, ETFs, interval funds, and closed-end funds are subject to management and other expenses, which will be indirectly paid by the Fund. Debt instruments are subject to credit risk and interest rate risk and may be subordinated to more senior debt instruments. BDCs often use leverage to enhance returns and are subject to interest rate risk, credit risk, and liquidity risk. CLOs are debt instruments but also carry additional risks related to the complexity and leverage inherent in the CLO structure. The use of leverage, such as borrowing money to purchase securities, will cause the Fund to incur additional expenses and magnify the Fund’s gains or losses.

There currently is no secondary market for the Fund's shares and the Fund expects that no secondary market will develop. Shares of the Fund will not be listed on any securities exchange, which makes them inherently illiquid. An investment in the Fund's shares is not suitable for investors who cannot tolerate risk of loss or who require liquidity, other than the liquidity provided through the Fund's repurchase policy. Limited liquidity is provided to shareholders only through the Fund's quarterly repurchase offers, regardless of how the Fund performs. The Fund's distributions policy may, under certain circumstances, have certain adverse consequences to the Fund and its shareholders because it may result in a return of capital, resulting in less of a shareholder's assets being invested in the Fund, and, over time, increase the Fund's expense ratio. Any invested capital that is returned to the shareholder will be reduced by the Fund's fees and expenses, as well as the applicable sales load. Investments in lesser-known, small and medium capitalization companies may be more vulnerable than larger, more established organizations. The sales of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund's NAV.

For performance information current to the most recent month-end, please call toll-free (833) 404-4103 or visit www.AltCIF.com. Performance information at NAV is reported net of the Fund’s fees and expense, but does not include the Fund’s maximum sales charge of 5.75% for Class A shares. Performance would have been lower if the maximum sales load had been reflected above. Performance for periods less than one year is not annualized.

Inception date of the Class A, Class C, Class W, and Class I is April 17, 2015. The inception date for Class L is July 28, 2017.

Maximum Offering Price (MOP) includes the Fund’s maximum sales charge of 5.75% for Class A shares.

Class A gross expenses are 4.40% and net expenses are 4.08%. Net fees are based on a contractual fee waiver and reimbursement agreement by the Adviser to waive its management fees (excluding any incentive fees) and absorb the ordinary annual operating expenses of the Fund to the extent they exceed 2.59% per annum of daily net assets of Class A through at least January 31, 2021.

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Contacts

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Water & Wall
libertystreet@waterandwall.com

For all other inquiries:
HRC Financial Group
info@hrcfinancialgroup.com
212-240-9726