Overview
Callodine Credit Management, LLC (“Callodine Credit”) was formed in 2021. The principal owner is
Callodine Credit, LLC, a subsidiary of Callodine Group, LLC (“Callodine Group”). Callodine Group is
majority owned by James Morrow (“Principal”).
Callodine Credit provides advisory services to privately offered pooled investment vehicles exempt from
registration under the Investment Company Act of 1940, as amended, organized by Callodine Credit or its
affiliates (collectively, the “Callodine Credit Funds” or the “Funds”). We may, in the future, organize
additional investment vehicles that follow an investment program similar to or different from the investment
program of the Callodine Credit Funds.
Callodine Credit is an affiliate of Callodine Commercial Finance, LLC (“CCF”), an operating company that
is a private asset-based provider of loans to middle market companies, whose investment objective is
substantially similar to the investment objectives of the Callodine Credit Funds. The personnel of the
investment team responsible for managing the Funds’ portfolios are employed by CCF. CCF is majority
owned by Callodine Group as a result of Callodine Group’s acquisition of Gordon Brothers Finance
Company, LLC (“GBFC”), the predecessor company to CCF,
on November 3, 2020.
The Callodine Credit Funds are organized as Delaware limited partnerships: The Callodine Asset Based
Loan Fund II, LP (“CABL II Fund”) and the Callodine Perpetual ABL Fund, LP (“PABL”). The Funds rely
on the relief from registration contained in Section 3(c)(7) of the Investment Company Act. Investment
vehicles organized outside of the United States (“Offshore Funds”) may be established by the General
Partner or an affiliate thereof as parallel funds in the future.
Callodine Credit manages the Funds in a manner consistent with the investment strategy described in the
Funds’ offering documents. In addition to day-to-day portfolio management responsibilities, Callodine
Credit bears primary responsibility for making investment decisions for the Funds and developing
investment strategies consistent with the investment objectives, policies and restrictions applicable to the
Funds. Callodine Credit does not provide specifically tailored advice to investors in the Funds. Any
investment restrictions applicable to the Callodine Funds are set forth in the organizational or offering
documents of the Funds.
As of December 31, 2023, Callodine Credit’s assets under management were approximately $442,949,601,
all of which are managed on a discretionary basis.