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VCIF.US
id: 1065, Created by , Scout

Vertical Capital Income Fund (VCIF) Loss on Sale of Investment Portfolio Case

  • On July 11, 2023, the Fund (VCIF) issued a press release announcing that it had sold a significant majority of its investment portfolio at a loss.
  • On it, $VCIF fell 14.65%, losing $15M+ of shareholder value.
  • Investors may have grounds to suspect that the Fund hid the decreas in value of its investments, which led to their losses.
On July 11, 2023, the Fund issued a press release entitled “Vertical Capital Income Fund Announces Sale of Majority of Investment Portfolio in Advance of Expected New Investment Advisory Agreement with Carlyle.” In this press release, the Fund announced that it had sold a significant majority of its investment portfolio for aggregate proceeds lower than the book value of the combined assets.

On this news, $VCIF fell 14.65% and lost over $15 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect the Fund of failing to timely disclose devaluation of its investments, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11 July 2023
Collecting participants…

Vertical Capital Income Fund

Carlyle Credit Income Fund is a close ended fixed income mutual fund launched and managed by Vertical Capital Asset Management, LLC. The fund is co - managed by Behringer Advisors, LLC. The Fund in...

    Ticker
    VCIF.US
    ISIN
    US92535C1045
    CIK
    1517767
    Sector
    Financials
    Industry
    Investment Banking & Investment Services
    Country
    USA
    Address
    20 Pacifica, Irvine, CA, United States, 92618