SADDLE BROOK, N.J.--(BUSINESS WIRE)--Bulldog Investors, LLC (“Bulldog”) today announced that it will solicit proxies for the annual meeting of shareholders of Vertical Capital Income Fund (the “Fund”) (NYSE: VCIF) to oppose the approval of a new investment advisory agreement between the Fund and Oakline Advisors, LLC and the re-election of Robert Boulware to the Fund’s Board of Trustees.
Phillip Goldstein, a managing member of Bulldog, commented: “After the Fund converted to a closed-end fund two months ago, the stock price immediately collapsed. It currently trades at a discount of about 20% below its net asset value (“NAV”). If shareholders do not approve the new investment advisory agreement, that would send a message to the Board that they want an opportunity to realize a price at or close to NAV for all their shares e.g., by liquidating the Fund.”
Bulldog beneficially owns approximately 7.6% of the outstanding common stock of the Fund.
About Bulldog Investors
Bulldog Investors LLC is an SEC-registered investment adviser that manages the Bulldog Investors group of private funds, Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.