Note from the Publisher: Chicago fund manager RiverNorth Capital, which operates both private funds, mutual funds, and closed-end funds, has launched a 40's Act fund devoted to investing in online lending. Since traditional hedge fund returns are definitely skewing downward these days, we applaud this firm's launch into fintech, which just keeps growing and growing and getting more institutional money thrown at it.
"RiverNorth Capital Management, LLC (“RiverNorth”), a boutique investment management firm specializing in opportunistic strategies, today announced the launch of RiverNorth Marketplace Lending Corporation (RMPLX) (the “Fund”), a registered 1940 Act closed-end interval fund dedicated to the rapidly growing marketplace lending (“online lending”) asset class.
'We are pleased to add RiverNorth Marketplace Lending Corporation to our portfolio of opportunistic investment offerings,” said Brian Schmucker, Chief Executive Officer of RiverNorth. “RiverNorth is among the first to offer retail investors this tremendous opportunity, that of providing diversified and efficient access to the peer-to-peer lending space.'
The Fund will invest in a diverse mix of marketplace lending sectors, including unsecured consumer, small business, and specialty finance loan segments. The Fund’s investment objective is to seek a high level of current income."
Read Full Press Release at BusinessWire