XFLT Shareholders Approve King Street Sub-Advisory Agreement
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) shareholders approved the King Street Sub-Advisory Agreement, appointing Rockford Tower Asset Management, a King Street subsidiary, as the new investment sub-adviser. This partnership is expected to enhance the Fund's performance, expand liquidity, and position it for long-term success by leveraging King Street's extensive credit expertise and $30 billion platform. The Board believes this move will improve portfolio management and shareholder value. Young Choi will serve as the new Portfolio Manager.
Key Highlights
- Shareholders approved the King Street Sub-Advisory Agreement on August 6, 2026.
- Rockford Tower Asset Management, a King Street subsidiary, becomes the new investment sub-adviser.
- King Street Capital Management manages approximately $30 billion in assets.
- King Street's platform includes a more than $12 billion CLO business.
- Young Choi will serve as the new Portfolio Manager for XFLT.
- The Board expects enhanced portfolio management and broader investment opportunities.
- The agreement aims to improve performance, distribution support, and long-term shareholder value.
Price Impact
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