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Flat Rock sees big value in the trade-off of liquidity for return potential
The NAVigator
English - January 07, 2022 14:43 - 10 minutes - 10.1 MB - ★★★★★ - 5 ratingsInvesting Business closedendfunds Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: John Cole Scott's crystal ball view of 2022 in closed-end funds
Robert Grunewald, chief executive officer at Flat Rock Global discussing how the interval-fund structure provides stability that allows a 'non-bank bank' -- which is the way he describes his firm -- to trade off some liquidity in pursuit of higher fixed-income returns. Operating in 'middle market credits' and investing in first-lien credits, Grunewald says that despite changing interest-rate and inflation conditions it remains reasonable to expect a return in the 7 percent range for the year ahead.