FORMS & INFORMATION

1. Returns are not annualized and returns are as of March 31, 2024. Inception date is June 1, 2022. Returns shown reflect the percent change in NAV per share from the beginning of the applicable period, plus the amount of any distribution per share declared in the period. All returns shown assume reinvestment of distributions pursuant to the Fund’s distribution reinvestment plan, are derived from unaudited financial information and are net of all Fund expenses, including general and administrative expenses, transaction related expenses, management fees, and incentive fees. Past performance is not indicative of, or a guarantee of, future performance. Returns listed as “(max sales charge)” assume payment of the full upfront sales charge at initial subscription (6.75%). Return information is not a measure used under GAAP. The returns have been prepared using unaudited data and valuations of the underlying investments in the Fund’s portfolio, which are estimates of fair value and form the basis for the Fund’s NAV. Valuations based upon unaudited reports may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated. Performance reflects certain expense limitation and fee waiver arrangements in effect during the periods shown. Absent these arrangements, the Fund’s performance would have been lower. Certain expenses paid by Eagle Point Credit Management or its affiliates on the Fund’s behalf are subject to reimbursement by the Fund for up to three years (which reimbursement would have the effect of reducing the Fund’s performance). Performance does not reflect the impact of federal, state or local taxation to which an investor may be subject.

DISTRIBUTIONS

Ex-Date	Distributions per Share
4/29/2024	$0.083
3/27/2024	$0.078
2/29/2024	$0.078
1/30/2024	$0.078
12/28/2023	$0.078
11/29/2023	$0.078
10/30/2023	$0.078
9/28/2023	$0.075
8/30/2023	$0.075
7/28/2023	$0.075
6/29/2023	$0.072
5/30/2023	$0.074
4/27/2023	$0.074
3/30/2023	$0.077
2/27/2023	$0.077
1/30/2023	$0.075
12/29/2022	$0.075
11/29/2022	$0.076
10/28/2022	$0.077
9/29/2022	$0.079
8/31/2022	$0.074
7/29/2022	$0.074

SHARE PRICES

Date	NAV per Share	Brokerage Offering Price	Affiliated RIA Offering Price	Institutional Offering Price
3/31/2024	$10.29	$11.03	$10.37	$10.29
2/29/2024	$10.29	$11.03	$10.37	$10.29
1/31/2024	$10.37	$11.12	$10.45	$10.37
12/31/2023	$10.23	$10.97	$10.31	$10.23
11/30/2023	$9.96	$10.68	$10.04	$9.96
10/31/2023	$10.00	$10.73	$10.08	$10.00
9/30/2023	$10.21	$10.95	$10.29	$10.21
8/31/2023	$10.19	$10.93	$10.27	$10.19
7/31/2023	$9.97	$10.69	$10.05	$9.97
6/30/2023	$9.70	$10.40	$9.77	$9.70
5/31/2023	$9.47	$10.16	$9.54	$9.47
4/30/2023	$9.81	$10.44	$10.01	$9.81
3/31/2023	$9.81	$10.44	$10.01	$9.81
2/28/2023	$10.18	$10.83	$10.39	$10.18
1/31/2023	$10.22	$10.87	$10.43	$10.22
12/31/2022	$9.97	$10.61	$10.17	$9.97
11/30/2022	$9.99	$10.64	$10.19	$9.99
10/31/2022	$10.02	$10.66	$10.22	$10.02
9/30/2022	$10.17	$10.82	$10.38	$10.17
8/31/2022	$10.48	$11.15	$10.69	$10.48
7/31/2022	$9.73	$10.35	$9.93	$9.73
6/30/2022	$9.78	$10.40	$9.98	$9.78
6/1/2022	$10.00	$10.64	$10.20	$10.00

CORPORATE GOVERNANCE

BOARD OF TRUSTEES

Thomas P. Majewski

Chairman, Interested Trustee

James R. Matthews

Interested Trustee

Scott W. Appleby

Independent Trustee

Kevin F. McDonald

Independent Trustee

Paul E. Tramontano

Independent Trustee

Jeffrey L. Weiss

Independent Trustee

OFFICERS

Thomas P. Majewski

Chief Executive Officer and Principal Executive Officer

Kenneth P. Onorio

Chief Financial Officer, Principal Accounting Officer and Chief Operating Officer

Nauman S. Malik

Chief Compliance Officer

Courtney B. Fandrick

Secretary

FAQ

Eagle Point Institutional Income Fund (the “Fund”) is a closed-end investment company that is registered under the Investment Company Act of 1940.
Our primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. We seek to achieve our investment objectives by investing primarily in equity and junior debt tranches of collateralized loan obligations, or “CLOs,” that are collateralized by a portfolio consisting primarily of U.S. first lien, floating rate senior secured loans with a large number of distinct underlying borrowers across various industry sectors and ratings that are below investment grade. CLOs are pooled investment vehicles comprised primarily of senior secured loans.
Eagle Point Credit Management LLC (“Eagle Point” or the “Adviser”) is a specialist asset manager focused on income-oriented credit investments in niche and inefficient markets. Eagle Point was established in 2012 and has over $7.8 billion of total assets under management as of January 31, 2023 (including undrawn capital commitments and including affiliates) for investment across over 50 funds and managed accounts. The vast majority of the Adviser’s assets under management is comprised of institutional investors.
Eagle Point Administration LLC (the “Administrator”), an affiliate of the Adviser, is the administrator of the Fund. Pursuant to the Administration Agreement between the Administrator and the Fund, the Administrator furnishes the Fund with office facilities and equipment, and clerical, bookkeeping and recordkeeping services. Under the Administration Agreement, the Administrator also performs, or arranges for the performance of, required administrative services, including accounting services, assistance in determining the Fund’s net asset value, the preparation of financial statements, oversight of the preparation and filing of tax returns and the printing and dissemination of reports to the Fund’s shareholders, general oversight of the payment of Fund expenses and the performance of sub-administrative and professional services rendered by others, and the provision of such other administrative services as the Fund may from time to time designate or require.
The Fund intends to make regular monthly distributions on its common stock to shareholders of record. In the event of a distribution, we anticipate a portion of such distributions, if made, to be paid from income primarily generated by interest income earned on our investment portfolio, and a portion of such distributions may also comprise a return of capital. No assurance can be given that we will be able to declare such distributions in future periods, and our ability to declare and pay distributions will be subject to a number of factors, including our results of operations. Information about historical distributions paid to common shareholders can be found on the website.
Please see the Performance section for details on distributions declared and paid since the Fund’s inception.
The Fund has adopted an “opt in” distribution reinvestment plan (“DRIP”) pursuant to which shareholders may elect to have the full amount of their cash distributions reinvested in additional Shares. Shares will be issued pursuant to the DRIP at their net asset value. There is no sales load or other charge for distributions reinvestment. Participants in the Fund’s DRIP are free to elect or revoke reinstatement in the DRIP within a reasonable time as specified in the plan. If shareholders elect to participate in the DRIP, distributions on Shares are automatically reinvested in additional Shares by UMB Fund Services, Inc., or the “DRIP Agent.” Holders of our Shares who receive distributions in the form of additional Shares are nonetheless required to pay applicable federal, state or local taxes on the reinvested distribution and will not receive a corresponding cash distribution with which to pay any applicable tax.
Dividends are generally taxable for U.S. shareholders as ordinary income or capital gains. The Fund will generally send shareholders a Form 1099-DIV as promptly as possible after the end of each calendar year. The Form 1099-DIV details the amounts includible in such U.S. shareholder’s taxable income for the year as ordinary income and/or as long-term capital gains.

PORTFOLIO INVESTMENTS

Top 10 UNDERLYING EXPOSURES

As of January 31, 2024

Top 10 Obligors	Sector	% of Total
Asurion	Insurance	0.7%
AthenaHealth	Healthcare Technology	0.6%
Virgin Media	Diversified Telecommunication Services	0.5%
TransDigm	Aerospace & Defense	0.5%
Ineos	Chemicals	0.5%
Numericable	Diversified Telecommunication Services	0.5%
Medline Industries	Healthcare Equitpment & Supplies	0.5%
McAfee	Technology: Software & Services	0.5%
Ultimate Software Group	Technology: Software & Services	0.5%
TIBCO Software	Technology: Software & Services	0.5%
Total		5.3%

The information presented herein is on a look-through basis to the collateralized loan obligation, or “CLO”, equity held by the Fund as of January 31, 2024 (except as otherwise noted) and reflects the aggregate underlying exposure of the Fund based on the portfolios of those investments. The data is estimated and unaudited and is derived from CLO trustee reports received by the Fund relating to December 2023 and from custody statements and/or other information received from CLO collateral managers and other third party sources. Information relating to the market price of underlying collateral is as of month end; however, with respect to other information shown, depending on when such information was received, the data may reflect a lag in the information reported. As such, while this information was obtained from third party data sources, January 2024 trustee reports and similar reports, other than market price, it does not reflect actual underlying portfolio characteristics as of January 31, 2024 and this data may not be representative of current or future holdings. Industry categories are based on the S&P industry categorization of each obligor as reported in CLO trustee reports to the extent so reported. Certain CLO trustee reports do not report the industry category of all of the underlying obligors and where such information is not reported, it is not included in the summary look-through industry information shown. As such, the Fund’s exposure to a particular industry may be higher than that shown if industry categories were available for all underlying obligors. In addition, certain underlying obligors may be re‐classified from time to time based on developments in their respective businesses and/or market practices.

Eagle Point Institutional Income Fund & Subsidiaries

INVESTMENT PORTFOLIO DETAILS

Download PDF Chart

INVESTORS