Waterfall Asset Management, a private equity firm, agreed to acquire Pollen Street Secured Lending, an investment trust for £675m. Waterfall believes the Possible Offer, if effected, would represent a compelling opportunity for all of the Shareholders to realise their investment at an attractive premium to the share price, and beyond an attractive price, the key benefit of the Possible Offer for Shareholders is up front liquidity. Shareholders have historically struggled to find liquidity in the stock and the daily buybacks have not narrowed the discount to NAV.