Lord Abbett Corporate Opportunities Fund Class I
LISSX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Douglas Bloom Sieg
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Jersey City NJ United States of America
- IPO Date
- Apr 17, 2023
- Website
- lordabbett.com
- Similar Companies
- Business
- Lord Abbett Special Situations Income Fund (LISSX) is a non-diversified, closed-end interval fund managed by Lord, Abbett & Co. LLC that seeks total return through a combination of high current income and capital appreciation by investing primarily in fixed income instruments associated with special situations, including stressed, distressed, and defaulted debt securities; debtor-in-possession financings; high-yield corporate bonds; bank loans; emerging market debt; and other below-investment-grade securities focused on downside protection. The fund targets opportunities arising from market dislocations, complex business structures, and issuers undergoing financial stress, with a portfolio breakdown emphasizing bank loans (61.6%), high-yield corporate bonds (27.1%), emerging market debt (5.0%), and cash equivalents (6.2%); top holdings include EPIC Y-Grade Services LP (4.4%), Lightstone Holdco LLC (3.2%), BCPE Grill Parent Inc. (3.0%), and AMC Entertainment Holdings Inc. (2.8%), alongside an average effective duration of 1.0 years and 83 issues. Launched on September 13, 2021, with Class A shares (LASAX) and Class I shares (LISSX), the fund offers quarterly repurchase opportunities for 5% of outstanding shares at net asset value and pays monthly distributions. In a significant recent development, effective February 18, 2025, the fund changed its name to the Lord Abbett Corporate Opportunities Fund, with no alteration to its investment strategy, objective, or portfolio management; this rebranding reflects Lord Abbett's ongoing emphasis on interval funds amid expanding private credit and special situations opportunities. The fund has demonstrated resilient performance, posting calendar-year total returns at NAV of -5.25% in 2022, 15.48% in 2023, and 10.63% in 2024, outperforming benchmarks in recent periods, while recent portfolio adjustments include new positions in securities such as Nautilus Power LLC 2023 Term Loan B, LIGHTSTONE HOLDCO LLC TLB, and Transocean Inc. 7.50% notes. Lord Abbett, founded in 1929 and headquartered at 30 Hudson Street in Jersey City, New Jersey, operates globally with offices in Dubai, Dublin, London, Montevideo, Singapore, Tokyo, and Zurich, managing approximately $255 billion in assets as of recent data and offering a broad range of fixed-income, equity, and alternative strategies to institutional and individual investors. The Special Situations Income Fund (now Corporate Opportunities Fund) primarily serves income-oriented investors seeking high yields from non-investment-grade credit in the U.S. and select international markets, with credit quality skewed toward B-rated (51.1%), CCC-rated (30.1%), and unrated (14.2%) securities.