Prospect Floating Rate and Alternative Income Fund Inc. – an externally managed non-diversified, closed-end management investment company that has elected to be regulated as a business development company – declared distributions for the months of November 2024 and December 2024. Each reflected a targeted annualized distribution rate of 8.5% based on the $4.65 net asset value per share for the quarter ended Sept. 30, 2024.
The distributions had a record date as of the close of business Dec. 2, and a payment date of Dec. 9; and a record date as of the close of business Dec. 27, and a payment date of Jan. 6, 2025, respectively.
Prospect Floating Rate and Alternative Income Fund was formerly known as Prospect Sustainable Income Fund Inc., and previously as Prospect Flexible Income Fund Inc.
The fund invests primarily in the floating rate loans of privately-owned U.S. middle market companies. These investments are generally sourced by Prospect Capital Management L.P., our investment adviser.
As of Sept. 30, 2024, the Prospect Floating Rate and Alternative Income Fund investment portfolio had a total fair value of approximately $84.21 million comprised of interests in 57 portfolio companies.
Prospect Capital Management L.P., headquartered in New York City, is an SEC-registered investment adviser that, along with its predecessors and affiliates, has more than 30-years of investing in and managing high-yielding debt and equity investments using both private partnerships and publicly traded closed-end structures.
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