Eagle Point Holds Final Close on its Defensive Income Fund III, Exceeding its Original Hard Cap

Eagle Point Credit Management LLC (“Eagle Point”), an innovative private credit investment manager, today announced that it has closed on $559 million in commitments to the firm’s Defensive Income Fund III (“DIF III”). DIF III exceeded its target of $400 million and original hard cap of $500 million.

DIF III is Eagle Point’s third closed-end fund in its Defensive Income Fund series. Within its Defensive Income Strategy, Eagle Point originates and invests in Portfolio Debt Securities (“PDS”), which are primarily debt securities issued by credit funds to finance a portion of their portfolios. Since the launch of the strategy in 2020, Eagle Point has originated and invested in over $8 billion of PDS across a range of credit funds, including private credit funds, closed-end funds, commercial mortgage REITs and BDCs. The strategy today has over $6 billion of AUM and a 11-person dedicated investment team.