Spotlight: Eagle Point Credit Management and Its Move From CLO Equity Into Fund Finance

Eagle Point built its name in CLO equity, and more than $6 billion of its assets now sit in a strategy that lends to other credit funds, an asset class the firm says it defined.

October 15, 2026

Eagle Point Credit Management is a Greenwich, Connecticut, private credit manager founded in 2012 by Thomas Majewski in partnership with Stone Point Capital. The firm reports $14 billion of assets under management and more than 120 professionals as of June 30, 2026, both figures including certain affiliates. Its six core strategies are CLO securities, Portfolio Debt Securities, Regulatory Capital Relief, Infrastructure Credit, Strategic Credit and Specialty Finance, offered to institutions, high-net-worth investors and retail investors through private funds, separately managed accounts, two NYSE-listed closed-end funds and non-traded registered funds.

Eagle Point's listed funds invest in CLOs, but more than $6 billion of its AUM now sits in a strategy it launched in 2020 to lend to other credit funds. Those loans, notes and preferred shares are what the firm calls Portfolio Debt Securities, an asset class Eagle Point says it identified and defined.

CLO equity and junior debt

The firm began in collateralized loan obligations. Before founding Eagle Point, Majewski held fixed income leadership roles at J.P. Morgan, Merrill Lynch, Bear Stearns and Royal Bank of Scotland, and the firm credits him with leading the creation of some of the earliest refinancing CLOs.

Eagle Point Credit Company (NYSE: ECC) invests primarily in CLO equity, and Eagle Point Income Company (NYSE: EIC) focuses on CLO junior debt. Eagle Point Institutional Income Fund, a non-traded registered closed-end fund, holds both, and private funds and funds of one complete the CLO lineup.

In 2025 Eagle Point directed 76 refinancing and reset transactions, which the firm says lowered the weighted average cost of debt on the related CLO equity positions by 48 basis points. It also launched its third strategic partnership with a CLO collateral manager that year, which again includes a perpetual revenue share from the manager's issuance platform.

Fund finance through Portfolio Debt Securities

The Defensive Income Strategy originates and buys the senior unsecured debt, preferred equity and loans that credit funds use to finance part of their portfolios. Borrowers have included private credit funds, closed-end funds, commercial mortgage REITs and business development companies. As of March 2026, the firm reported more than $8 billion originated or invested since launch and an 11-person dedicated team led by Senior Principal Dan Spinner, whose earlier career included financing alternative asset managers in the Financial Institutions Group at Bear Stearns.

The strategy's third closed-end fund, Defensive Income Fund III, held its final close on March 10, 2026, with $559 million of commitments, above its $400 million target and its original $500 million hard cap. Limited partners included public and private pension funds, endowments and foundations, insurance companies and family offices. A separate registered vehicle, Eagle Point Defensive Income Trust, launched in 2025 with a $10 million private placement.

Access for advisors

Eagle Point Enhanced Income Trust (Class I: ENHIX) is an interval fund that draws on the multi-strategy platform, investing across Portfolio Debt Securities, Regulatory Capital Relief, infrastructure credit, strategic credit, asset-based finance and CLO junior debt and equity. On June 17, 2026, it became the firm's first offering on CAIS, the alternative investment marketplace for independent advisors. Non-traded offerings are distributed through Eagle Point Securities, an affiliated FINRA member broker-dealer whose president, Joseph Roth, is also the firm's head of non-traded distribution.

The firm reports raising $3 billion of new capital in 2025 and adding 35 team members.

Newer strategies and published research

Strategic Credit pursues opportunistic corporate investments. In 2025 it deployed capital into equipment leasing and launched Newton Commercial Finance, an equipment finance platform formed with Apple Bank. In Regulatory Capital Relief, the firm reported nearly $1 billion deployed as of February 2026, including a forward-flow partnership.

Eagle Point also publishes its credit views. An April 2026 paper by Majewski and Principal Ed Tai argued that markets were pricing AI disruption of software companies faster than past technology shifts suggest it will arrive, and that loans maturing in three to six years carry less of that risk than equity valued on decades of projected cash flows.

Infrastructure Credit, launched in 2025, is led by Principal Jennifer Powers, who joined that year from ForeStar Credit. It targets mostly senior secured loans to middle-market, infrastructure-centric businesses tied to the energy transition, and the firm reports leading eight transactions in its first year across renewable energy, battery storage, fuel cells, waste and recycling, data centers and industrial decarbonization. Its most recent announced deal came on Aug. 19, 2026, when Eagle Point was lead investor in a holding-company loan to a subsidiary of Nexus Data Centers. The financing completed the capital structure for the first phase of a data center and behind-the-meter power campus in Hubbard, Texas, allowing the project to reach a final investment decision. Nexus said Eagle Point had supported it across four financings.