Flat Rock Opportunity Fund Announces Distribution Increase
WASHINGTON, Aug. 25, 2021 /PRNewswire/ -- Flat Rock Opportunity Fund (the “Fund”), a closed-end interval fund investing in CLOs, announced that its Board of Directors has declared an increase in its monthly distribution to $0.221 per share. Based upon the closing price of the Fund as of August 23, this distribution increases the effective distribution rate from 9.88% to 11.90%.
This is the third time in the past nine months that the Fund has increased its monthly distribution. The Fund most recently increased its monthly distribution to $0.183 from $0.175 in May 2021.
“Flat Rock Opportunity Fund has had a successful year thus far, and we continue to see exciting investment opportunities while remaining highly selective in our approach. We are pleased that the Fund’s performance allows us to once again increase the distribution rate,” said Robert Grunewald, Founder and CEO of the Fund’s advisor, Flat Rock Global, LLC.
About Flat Rock Opportunity Fund:
Flat Rock Opportunity Fund invests primarily in the equity and, to a lesser extent, in the junior debt tranches of CLOs. CLOs provide exposure to senior secured loans on a leveraged basis. The Fund’s investment objective is to generate current income and, as a secondary objective, long-term capital appreciation. Flat Rock Opportunity Fund is structured as an Interval Fund and can be purchased using the ticker FROPX.
About Flat Rock Global, LLC:
Flat Rock Global is an alternative credit manager investing in areas of the credit markets we believe are less efficient with the dual objective of preservation of capital and generation of current income. Flat Rock funds are available exclusively to RIAs, Family Offices, and Institutional Investors. To learn more about the firm and our funds, please visit www.flatrockglobal.com.
Consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. Other information about the Fund may be obtained at www.flatrockglobal.com/opportunity-fund.html. This material must be preceded or accompanied by a prospectus. Alps Distributors Inc. serves as our principal underwriter, within the meaning of the 1940 Act, and will act as the distributor of our shares on a best efforts’ basis, subject to various conditions.
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SOURCE Flat Rock Global