Hancock Park Turns To A Phone Campaign To Get Its Wind-Down Vote Over The Line
Because the liquidation proposal is measured against all outstanding shares rather than only those voted, every holder the fund cannot reach counts against it.
September 10, 2026
Hancock Park Corporate Income has started telephoning stockholders one at a time to chase down votes for the proposal that would end the fund, with under four weeks left before its annual meeting.
The Chicago-based non-traded business development company, advised by OFS Capital Management, disclosed that beginning September 10 it began contacting holders it has not been able to reach. The letters, flagged as extremely important and signed by chairman, president and chief executive Bilal Rashid, direct recipients to call proxy solicitation firm D.F. King and emphasize that the call will take only a few moments and requires no confidential information. The annual meeting is set for October 6 at 10 a.m. local time.
There is arithmetic behind the urgency. Approval of the wind-down is measured against every share entitled to vote rather than only the shares actually voted, which turns abstentions and unreturned proxies into effective opposition. With roughly 193 record holders and 347 beneficial holders spread across about 1.47 million shares, a handful of unreachable retail accounts is enough to stall the outcome.
What stockholders are being asked to approve
Five items are on the ballot:
- approval of the Plan of Sale and Liquidation;
- withdrawal of the fund’s election to be regulated as a business development company;
- election of one Class I director to a three-year term;
- ratification of KPMG as independent auditor for the year ending December 31, 2026; and
- authority to adjourn the meeting if needed.
That last item is not filler. An adjournment vote is the mechanism a board relies on when the count comes up short, buying additional weeks of solicitation rather than losing the proposal outright.
A payout well below carrying value
Approval would let the board sell the remaining portfolio, settle or reserve for liabilities including the unsecured note maturing in November, and distribute what is left. The fund most recently reported net asset value of $5.43 per share at June 30 while estimating total liquidating distributions of roughly $3.50 to $4.30 per share, a gap that is the operative number for any advisor still holding the position for clients. The board approved the plan in July and simultaneously shut the continuous private offering that had been open since 2016.
The separate proposal to drop the BDC election would free the fund from asset coverage tests and affiliated transaction limits during the disposition period, though it carries a tax cost if it takes effect before liquidation is complete for federal tax purposes.
The phone campaign is the latest in a series of supplemental solicitation materials the fund has issued since the definitive proxy went out, alongside a stockholder question-and-answer package and an amended notice of internet availability.
