Mitch Glynn, assistant portfolio manager on CVC Income & Growth (CVCG), is leaving funds group CVC Credit Partners to “pursue other opportunities” as the top-performing debt fund shows its confidence with a share issue.

Chair Robert Kirkby thanked Glynn, head of liquid restructuring at CVC Credit, for his contribution, describing him as a “real asset”. He said the team behind the £233m investment company remained strong with lead manager Pieter Staelens supported by the newly promoted assistant manager Mathieu Rescanieres.

Glynn joined CVC Credit 13 years ago after working for five years as a credit analyst at Neuberger Berman.

Separately, CVCG announced a share issue in response to the ongoing demand for the 8%-yielder which has returned a total of 67.1% to shareholders over five years.

CVCG’s broker Winterflood will conduct a placing of shares held in treasury by the company. These will be re-sold at a 0.65% premium to net asset value. Private investors will be able to participate in a WRAP retail offer.

The investment company has steadily issued shares from treasury where they have been held after former share buybacks. It currently holds over 175.5m sterling and 54.5m euro shares this way compared to 196.3m sterling and 87.6m euro shares in the market. However, a previous £60m placing and share offer raised only £10.3m.

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