Company: ECC-PD
Filing Date: 2025-02-04
Form Type: 40-APP/A
Source: 0001104659-25-008762
Chunk: 15

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-02-04
Form: 40-APP/A
Chunk 15
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, the Applicants discuss additional procedures that apply to Follow-On Investments
and Dispositions, including the onboarding process that applies when initial investments were made without relying on the Order.

A. Overview

The Existing Advisers are
specialized asset managers that focus in credit-oriented investment strategies. The three members of the Existing Advisers’ senior
investment team collectively have around 60 years of industry experience. EPCM currently manages ECC and EPIIF, each of the Existing
Affiliated Funds, and numerous separately managed accounts, pursuant to a variety of credit-oriented investment mandates. EPIM currently
manages EIC and focuses on investing in collateralized loan obligations. EPEIM currently manages EPEIT and focuses on investing in portfolio
debt securities, collateralized loan obligations, and certain other credit-related investments. EPDIM currently manages EPDIT and focuses
on investing in portfolio debt securities. As of December 31, 2023, the Existing Advisers had over $9.1 billion of assets under
management (inclusive of undrawn capital commitments) in aggregate. Each Existing Adviser is registered as an investment adviser with
the Commission. Each Existing Adviser manages the assets entrusted to it by its clients in accordance with its fiduciary duty to those
clients and, in the case of ECC, EIC, EPIIF, EPEIT, EPDIT and the Future Regulated Funds, the Act.

The Existing Advisers identify
numerous private placement opportunities each year on behalf of their clients, and must determine how to allocate those opportunities
in a manner that, over time, is fair and equitable to all of their clients, and without violating the prohibitions on joint transactions
included in Rule 17d-1 and Section 57(a)(4) of the Act. Such investment opportunities may necessitate or otherwise benefit
from multiple clients investing jointly. In those cases, the Existing Advisers may not include a Regulated Fund in the allocation if
another Regulated Fund and/or any Affiliated Fund is participating, absent exemptive relief from the Commission. Once invested in a security,
the Regulated Funds and Affiliated Funds often have the opportunity to either complete an additional investment in the same issuer or
exit the investment in a transaction that may be a joint transaction. Currently, if a Regulated Fund and one or more Affiliated Funds
are invested in an issuer such funds may not participate in a Follow-On Investment or exit the investment if the terms of the transaction
would be a prohibited joint