The prospectus states the Fund seeks current income and capital appreciation by investing at least 80% of net assets, plus borrowings for investment purposes, in credit-related instruments of North American and European issuers, without restriction on maturity, seniority, structure or credit quality, and with no emerging markets exposure. The Adviser allocates opportunistically across two themes: Private Capital (private lending from senior secured to mezzanine, structured products, regulatory capital relief, structured equity, and asset pools such as aircraft leases, receivables, renewables and mortgage servicing rights) and Special Situations (event-driven, stressed and distressed credit). Leverage of up to 33% of assets is permitted.