W. P. Carey and Guggenheim Partners announced that Carey Credit Income Fund will begin to raise capital through its initial feeder fund, Carey Credit Income Fund 2016 T. CCIF is a non-traded business development company that intends to invest primarily in large, privately-negotiated loans to private middle market U.S. companies, with a focus on senior secured debt investments.

CCIF is advised by Carey Credit Advisors, an affiliate of W. P. Carey, as the advisor, and Guggenheim Partners Investment Management, an affiliate of Guggenheim Partners, as the sub-advisor.

On July 24, 2015, the registration statement for CCIF 2016 T, a non-traded feeder fund, was declared effective by the Securities and Exchange Commission. CCIF 2016 T intends to raise a maximum of $1.0 billion at an initial public offering price of $9.55 per share.

Trevor P. Bond, CEO of W. P. Carey, said: “Since its founding in 1973, W. P. Carey’s core business has focused on credit underwriting, providing sale-leaseback financing to growing companies. Carey Credit Income Fund is a natural extension of that competency. We believe that the partnership between W. P. Carey and Guggenheim will combine the collective expertise and provide the required know-how to successfully manage Carey Credit Income Fund while delivering a dependable income stream to its shareholders. We also believe that W. P. Carey and Guggenheim’s combined $50 million initial capital investment in Carey Credit Income Fund demonstrates our commitment to the market and our fellow shareholders.”

“Carey Credit Income Fund allows individual investors the opportunity to invest in an asset class that has traditionally been available only to large institutional investors,” said Jeffrey Abrams, senior managing director of Guggenheim. “We look forward to a successful, long-term partnership with W. P. Carey, and we believe both the current and long-term market environment present attractive investment opportunities for Carey Credit Income Fund.”