- The board of the Pollen Street Secured Lending investment trust has agreed to appoint a new alternative investment fund manager (AIFM) and a new delegated portfolio manager.

Effective from 1 October 2020, Mirabella Financial Services will act as the AIFM, while Waterfall Asset Management will be the delegated portfolio manager.

They take over responsibilities from PSC Credit Holdings.

The board said it believed that Waterfall's appointment "materially increases the likelihood that a firm all cash offer will be brought to the table for shareholders to consider".

If a recommendable offer is not forthcoming, the board said it would likely recommend that the investment trust pursued an orderly run-off with capital to be returned to shareholders.

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