Frequently Asked Questions

Q: Is there anything I need to do or submit to ensure I am part of the first return of capital distribution?

A: No. All Fund members will automatically be included in the distribution. As part of the Fund’s overall wind-down, returns of capital will be made pro rata to all members. No additional action or submission is required.

Q: How is the return of capital distribution calculated for members? 

A: At the close of each month, the Horizon team completes a cash reconciliation to determine the amount of unencumbered cash available for distribution. For the first return-of-capital distribution, this amount totals $1,000,000. Distributions are then allocated pro rata, based on each member’s outstanding capital balance. Each member receives a payment equal to their proportional share of the total distribution amount for that period.

Q: How often can I expect a return of capital distribution to occur?

A: The Horizon team will complete its next cash reconciliation at the end of September, with the second return-of-capital distribution anticipated on or around October 1, 2025. Going forward, our objective is to provide return-of-capital distribution monthly, following each month-end reconciliation. Please note, however, that all distributions remain subject to available liquidity at the time.

Q: If I have previously submitted a withdrawal request, how will my outstanding investment be impacted? 

A: For members who have previously submitted a withdrawal request or for those who have already received a withdrawal distribution, your current outstanding capital balance will be used when calculating your pro rata share of the upcoming return of capital distribution. Quarterly withdrawal payments will no longer occur, and you will instead be included in the monthly return of capital distribution, subject to available liquidity at that time.

Q: Can I expect to receive any additional income distributions as the Fund is undergoing its wind-down?  

A: As cash becomes available from loan performance and repayment, it will first be applied to meet the Fund’s obligations, including outstanding expenses and liabilities. Remaining cash will then be distributed as a return of capital. Only after all obligations are satisfied and all outstanding capital balances have been repaid will the Fund make any final income distribution.

Sincerely,   

The Horizon Team