NexPoint, a subsidiary of Highland Capital, launches an unsolicited offer to become TICC Capital's (TICC) new External Manager instead of Benefit Street Partners. Neither contender is telling investors what they need to know, but we're hoping the tussle may shed some light on this strange changing of the guard at TICC.
With half the Business Development Companies having reported earnings for the second quarter, we have a look at the direction of the sector and highlight a number of developments underway. It's just a snapshot and not a comprehensive review. We'll have a full survey once earnings season is over.
Hot off the digital presses details on TICC Capital Management's proposed sale of the management contract in TICC Capital (TICC) to Benefit Street Partners, an arm of a huge Private Equity Group. The new external manager-if approved by shareholders-will be changing everything about the Company and the existing managers will be long gone.