Ranger Direct Lending fund appoints new director

By Daniel Lanyon on 10th July 2018

The fund’s new board line-up is aiming to quickly and efficiently deliver on the shareholders' overwhelming desire to wind down its portfolio.

Ranger Direct Lending fund appoints new directorImage source: https://goo.gl/97xhDG

Brett Miller has been appointed as a non-executive director of the £219m Ranger Direct Lending investment trust.

After a torrid period, the trust’s portfolio of assets is facing a wind-down after a shareholder revolt was resolved and several board members stepped down alongside its chairman Chris Waldron. 

Miller currently serves as a non-executive director of a number of listed investment companies and previously served as an executive director of Damille Investments Ltd and Damille Investments II Ltd (both closed end funds listed on the specialist funds segment of the London Stock Exchange).

He started out at  London based law firm Nabarro Nathanson in 1993 where he qualified as a solicitor and practiced corporate law until December 1997.

Miller is currently a director of, the Local Shopping REIT, Manchester and London Investment Trust, M & L Property and Assets, M & L Capital Management Global Funds ICAV and EIH.

Alongside the newly appointed MIller, the board has also announced the establishment of two new committees to deliver on the wind-down and realisation of the fund’s existing portfolio, excluding its liturgical quagmire with Princeton direct lending.  

This committee will also conduct an in-depth review of service providers and their contractual agreements as well as other corporate matters. This committee is comprised of the new board members Dominik Dolenec, Brendan Hawthorne and Brett Miller.

Secondly, it will liaise with the Investment Manager and act as a point of contact in respect of the Princeton proceedings and the strategic decisions associated with those proceedings. This committee is comprised of just Jonathan Schneider and Gregory Share.

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