CION Investment closes joint venture Senior Loan Fund Partners to invest in first-lien loans

CION Investment Corporation said it closed a strategic joint venture with institutional investors to form Senior Loan Fund Partners, LLC, capitalized with $125 million in senior secured notes and $59.7 million in membership interests. The vehicle will invest primarily in senior secured first lien loans and used proceeds to buy a 20-loan first-lien portfolio from CION at fair value, with a $180.0 million implied price at 99.8% of par.