The board of Pollen Street Secured Lending has officially appointed Waterfall Asset Management as its delegated portfolio manager and Mirabella Financial Services as its alternative investment fund manager (AIFM), after sacking its previous manager PSC Credit Holdings.
Both appointments are effective as of today (1 October), the board said in a statement. As part of the transition, the board has entered into a termination agreement with its previous manager, PSC Credit Holdings, which will see the board pay the firm "the approximate balance of the unpaid base management fee". In a statement, PSC said it is "pleased to confirm it has reached agreement with the board of Pollen Street Secured Lending plc for the early termination of the investment management agreement in place between the two entities". Under the new terms, Waterfall will be paid an an...
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