Emery Partners Income Credit Strategies Fund has initiated a tender offer to purchase shares from its shareholders, marking a strategic move to enhance liquidity. The fund is offering to buy back up to approximately 5% of its net assets, which amounts to around $4.25 million based on its net asset value as of June 30, 2026. This tender offer is significant as it allows shareholders to liquidate their investments at a fair market value, potentially increasing shareholder satisfaction and trust in the fund.
The tender offer is scheduled to expire at 11:59 PM Eastern Time on December 15, 2026. Shareholders wishing to participate must submit their tender requests by this deadline, although the fund reserves the right to extend the offer if necessary. This move is expected to resonate within the investment management industry, particularly among similar funds that may consider adopting similar liquidity strategies.
Background
Emery Partners Income Credit Strategies Fund is a Delaware statutory trust registered under the Investment Company Act of 1940. The fund operates as a non-diversified, closed-end management investment company. Its principal executive office is located at 53 State Street, 23rd Floor, Boston, MA. The fund has undergone name changes in recent years, previously known as SKK Access Income Fund and SKK Access Income Fund LP.
What the Filing Says
According to the tender offer statement filed on October 20, 2026, the fund is offering to purchase shares at their net asset value. Shareholders can tender either all or a portion of their shares, and the fund will pay cash for the accepted shares. The filing states, "Shareholders that desire to tender Shares for purchase must do so by 11:59 PM, Eastern Time on December 15, 2026." This timeline allows shareholders to make informed decisions about their investments.
Impact
This tender offer may affect current shareholders of Emery Partners Income Credit Strategies Fund by providing them with an opportunity to liquidate their investments at a fair price. Additionally, the offer could impact the fund's overall asset management strategy, as a reduction in total assets may lead to higher costs per share for remaining shareholders. The fund has also indicated that it may need to liquidate portfolio holdings to finance the share repurchases, which could impact investment strategies moving forward.
What's Next
Shareholders must submit their tender requests by the expiration date of December 15, 2026. The fund has the discretion to extend the offer, amend it, or cancel it altogether. The filing does not specify what actions will be taken if the offer is oversubscribed or if shareholders withdraw their tenders.