Ranger Direct Lending appoints new alternative investment fund manager

Writer, Stock Market Wire
Tuesday, February 12, 2019 - 07:40

Ranger Direct Lending said it had appointed International Fund Management as its new alternative investment fund manager, with immediate effect.

The change came after the company terminated a previous management agreement with Ranger Alternative Management II.

International Fund Management would be paid an annual management fee of £70k.

It was also being paid an initial set-up fee of £17.5k and was entitled to be reimbursed for properly incurred expenses attributable to the performance of its services.

'The board will continue to consult with major shareholders in respect of any future changes to the company's management arrangements,' Ranger Direct Lending said.

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