PC · PRIVATE CREDIT

Variant Impact Fund

Variant Investments · Interval Fund

Program Overview

Interval Fund

Variant Impact Fund

Peer Group Filters

Objectives: IncomeCapital Appreciation
Asset Class: Private CreditPrivate EquityNatural ResourcesFund Strategy Single/Multi
Vehicle: Interval Fund
Single / Multi Asset: Multi-Asset

Sponsor/Manager

Variant Investments

Asset Class

Private Credit

Issuer

Variant Impact Fund

Issuer Legal Structure

Delaware Statutory Trust

Program Life Structure

Evergreen

Securities Offered

Equity - Institutional Class Shares

Target Leverage

Maximum 33% debt-to-total-assets Debt sits at the Fund. Borrowing is capped at 33 1/3% of total assets (300% asset coverage). No borrowings in FY2026. A $30M credit facility (3-month SOFR + 3.50%, 1.50% floor) closed May 15, 2026; drawn balance not disclosed. Derivatives limited to 10% under the Rule 18f-4 limited user exception.

Strategy Risk/Return Profile

Managing Broker-Dealer

Distribution Services, LLC

Scale

3,334,557 Institutional Class shares outstanding · 53 Portfolio positions excluding money market

Minimum Investment

$1,000

Institutional Class Shares · waivable

Strategy Overview

The prospectus states the Fund seeks a high level of current income, with capital appreciation secondary, while targeting positive social and environmental impact aligned with the UN Sustainable Development Goals. Under normal conditions at least 80% of net assets go to impact investments across financial inclusion, equitable growth and responsible consumption: private credit facilities, specialty finance, real estate debt and equity, infrastructure and renewable energy debt, and impact private funds, directly or through underlying funds. It may use derivatives, short positions and leverage.

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