New York, October 15, 2026 /PRNewswire/ — The Bluerock High Income Institutional Credit Fund (the “Fund” or “High Income Fund,” ticker: IIMAX, IIMCX, IIMWX) today announced its 17th consecutive quarterly regular distribution, with a current annualized distribution rate of 8.1%¹. Shareholders who held shares throughout the quarter will receive a total distribution of approximately $0.45 per share. Since its inception on June 21, 2022, the Fund has paid cumulative distributions of approximately $10.67 per share.
The fund continues to strategically diversify its portfolio while maintaining a higher allocation to debt positions within the CLO capital structure. We are also monitoring an evolving theme in the credit market that investors are increasingly referring to as “HALO” (heavy asset, low obsolescence)—a preference for credit exposures in real estate sectors characterized by tangible, long-lasting assets with value resilience across market cycles and lower susceptibility to technological disruption. We believe this theme is becoming an increasingly attractive segment within the credit market, and the fund’s investment mandate enables it to evaluate such opportunities while aligning with its income objectives.
As of now, the fund holds 104 collateralized loan obligations (CLOs), with an aggregate underlying loan value of approximately $4.87 billion, covering over 1,350 underlying senior secured loans across multiple industries (underlying holdings as of September 30, 2026, and subject to change at any time; not intended as investment advice). As of September 30, 2026, the net asset value of the High Income Fund was approximately $168 million.
Net Performance of Class I Shares of the High Income Fund
The returns listed are total net returns. When expressed as a percentage, total return is calculated by adding the price change during the period, any reinvested income, and capital gains distributions, then dividing by the starting price. Returns exceeding one year are annualized.
The performance data referenced herein represents historical performance. Current performance may be higher or lower than the performance data above. Investment returns and principal value will fluctuate, so shares redeemed may be worth more or less than their original cost. For performance information, please call the toll-free number 1-844-819-8287. Past performance does not guarantee future results.
As of February 1, 2026, the gross annual fund operating expense ratios for Class A, Class C, and Class I shares are 3.81%, 4.61%, and 3.66%, respectively, before any fee waivers or expense reimbursements. The fund’s investment adviser has entered into a contract agreeing to reduce its fees and/or absorb fund expenses until at least January 31, 2027, to ensure that the net annual fund operating expenses do not exceed 2.10% for Class A shares, 2.85% for Class C shares, and 1.85% for Class I shares, with the possibility of recoupment in future years. In addition to its contractual obligations under the fee limitation agreement, the adviser voluntarily assumed all fund operating expenses and waived all management fees from inception through December 31, 2024. The adviser continues to voluntarily forego its incentive fee thereafter. Any operating expenses and management fees voluntarily paid or waived during this period are not subject to recoupment by the fund in future years. Without the adviser’s fee waivers and expense payments, fund expenses would be higher and fund returns would be lower.
1 The 2026 third-quarter distribution rate is annualized and divided by the NAV as of September 30, 2026. The fund’s distribution policy is to distribute to shareholders on a quarterly basis. The quarterly distribution amount is not fixed and will vary based on the performance of the fund’s underlying holdings. This distribution policy may be adjusted. The tax characterization of fund distributions depends on multiple factors, including the tax nature of distributions received by the fund from its underlying investments—information which the fund does not know at the time of distribution. Based on U.S. GAAP, the fund estimates that none of its most recent distribution constitutes a return of capital; however, the tax classification of distributions for federal income tax purposes differs from their classification under U.S. GAAP, and the ultimate source and tax character of all distributions will be determined after year-end, upon receipt of tax information related to the fund’s underlying investments. Shareholders should note that any return of capital will reduce their tax basis in their shares and may increase taxable gain (if any) upon disposition of the shares. There is no guarantee that the fund will continue to declare distributions or that such distributions will remain at current levels.
The fund was established on June 21, 2022.
Additional information regarding the fund and/or investment performance and related calculations is available upon request.
About the Bluerock High Income Institutional Credit Fund
The Bluerock High Income Institutional Credit Fund (the “Fund”) is a publicly offered closed-end fund that provides individual investors with access to the rapidly growing institutional-grade asset class. The Fund’s primary investment objective is to generate high current income, with a secondary objective of seeking attractive long-term risk-adjusted returns and low correlation to broader markets. The Fund achieves these objectives through direct and indirect investments in private credit, primarily in actively managed, diversified pools of senior secured loans known as Collateralized Loan Obligations (CLOs). The Fund has partnered with Clearlake Capital Asset Management, LLC, whose team serves as the Fund’s sub-adviser; this team has overseen the issuance of $40 billion in CLOs since 2001. The minimum investment for Class A and Class C shares is $2,500 ($1,000 for retirement plans). For access to the Fund’s public company filings, visit the U.S. Securities and Exchange Commission website at sec.gov or the company website at bluerockfunds.com.
Risk Disclosure
Not insured by the FDIC | No bank guarantee | Possible loss
Investing in funds involves risks, including the possibility of receiving little or no return on your investment, as well as the potential to lose part or all of your investment. This material is neither an offer to sell nor a solicitation to buy any securities.
Investors should carefully consider the fund’s investment objectives, risks, sales charges, and expenses. These and other important information about the fund are contained in the prospectus, which can be obtained by visiting bluerock.com/hi-fund/documents. Investors should read the prospectus carefully before investing.
Past performance is not indicative of future results. The fund’s ability to achieve its investment objectives depends in part on the advisor and sub-advisor’s ability to effectively allocate the fund’s assets among various available investment opportunities. There is no guarantee that actual allocations will effectively achieve the fund’s investment objectives or generate positive returns. Additionally, the fund’s investment strategy may not be effective under all market conditions. Any statements regarding the fund’s performance contained herein are historical and may differ significantly from the fund’s performance after the dates referenced in such statements. The fund’s most recent performance data can be found at bluerockfunds.com/hi-fund/performance.
Please note that the performance data for the indices listed in this article is for reference only. You cannot invest directly in an index. Index performance does not represent the actual performance of any fund or portfolio. The performance of a fund or portfolio may differ significantly from that of an index holding the same securities. Index performance assumes reinvestment of dividends but does not reflect any management fees, transaction costs, or other expenses that a fund or portfolio may incur, nor does it account for brokerage commissions on the trading of fund shares. These fees, expenses, and commissions are likely to reduce returns.
This fund is a closed-end interval fund whose shares have no public trading history and currently have no intention of listing on any public exchange. A secondary market for the fund’s shares is not expected to develop. The fund provides limited liquidity to shareholders solely through quarterly repurchase offers of at least 5% of the outstanding shares, at net asset value. Shareholders cannot be guaranteed the ability to sell all the shares they wish to sell in any quarterly repurchase offer. Quarterly repurchases of shares are typically financed using available cash or by selling securities from the portfolio. Selling securities to fund repurchases may depress the market prices of those securities, thereby reducing the fund’s net asset value. This fund is suitable only for investors who can bear the risks associated with its limited liquidity and should be considered a long-term investment.
Fund investors should understand that the fund’s net asset value (NAV) fluctuates, meaning that the value of your shares at any point in time—even after accounting for the reinvestment of dividends and distributions—may be less than your original investment. Holding fund shares represents an indirect investment in the securities held by the fund. The value of these securities, like other market investments, may rise or fall, sometimes rapidly and unpredictably. Under the Investment Company Act of 1940, the fund is classified as a “non-diversified” fund, meaning that more than 5% of its total assets may be invested in the securities of one or more issuers. As a result, changes in the financial condition or market value of a single issuer may cause greater fluctuations in the fund’s NAV than would be typical for a “diversified” fund. The fund is not a complete investment solution.
Since the fund primarily invests in debt-based instruments and securities, the value of your investment may fluctuate with changes in interest rates. The fund may invest in senior secured debt and CLOs. A significant increase in interest rates could lead to higher loan defaults, and the fund’s asset value may also be affected by other uncertainties, such as economic developments impacting the senior secured term loan market or uncertainties affecting borrowers’ overall financial condition. The risk that borrowers of senior secured loans fail to make timely interest and/or principal payments may result in losses or reduced cash flow for the fund, potentially lowering the fund’s NAV or distributions. CLOs also carry additional risks, including but not limited to: (i) the fund’s investment in CLOs may be subordinate to other classes or tranches; and (iv) the structure of CLO investments is complex, may not be fully understood at the time of investment, and could lead to disputes with issuers, senior tranche holders, or other parties, or result in other unintended investment outcomes. Additionally, the nature of the fund’s investment strategy exposes it to various risks, including credit risk (borrowers may default), liquidity risk (investments may not be sellable at favorable times or prices), and prepayment risk (borrowers may repay obligations early, reducing interest income). All potential investors should read the “Risk Factors” section of the prospectus for further information related to investing in this fund.
The Bluerock High Income Institutional Credit Fund is distributed by ALPS Distributors, Inc. (ALPS). Bluerock Credit Fund Advisor, LLC is not affiliated with ALPS or Clearlake Capital Asset Management, LLC. This material is provided for informational purposes only and should not be construed as investment advice or as a recommendation for any specific security, strategy, or investment product, or for any other purpose. Some information contained herein is sourced from what are considered reliable sources but has not been independently verified. This material reflects the views as of its date of issuance and is subject to change without notice.
For more information, contact Bluerock Capital Markets at 877.826.BLUE (2583).
Collateralized Loan Obligations (CLOs): A form of securitization that pools payments from multiple corporate loans—typically senior secured corporate loans—and distributes them to different classes of investors according to varying tranches.
Correlation: A measure of the strength and direction of the linear relationship between two random variables, ranging from -1 to 1.
Senior Secured Loans (SSLs): Debt obligations typically secured by a company's assets. SSLs hold a higher priority in a company’s capital structure and have the first claim on the borrower’s assets.