Business
SuRo Capital Corp. Announces Plan to Transition to Externally Managed Structure & First Quarter 2026 Preliminary Investment Portfolio Update
Board Approves Joint Venture with Magnetar to Serve as New Investment Adviser Net Asset Value Anticipated to be $14.00 to $14.50 Per Share NEW YORK, April 07,
About this update from Suro Capital Corp.
[{"type":"text","content":"Board Approves Joint Venture with Magnetar to Serve as New Investment Adviser Net Asset Value Anticipated to be $14.00 to $14.50 Per Share NEW YORK, April 07, 2026 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today announced that its Board of Directors approved a proposal to transition from an internally managed business development company (“BDC”) to an external management structure. Neostellar Advisors LLC, a joint venture established by SuRo Capital with Magnetar, a multi-strategy alternative investment platform, will serve as investment adviser of the BDC, subject to stockholder approval. Additionally, SuRo Capital provided a preliminary update on its investment portfolio for the first quarter ended March 31, 2026. “We are pleased to announce a joint venture with Magnetar to form a new external investment adviser. In connection with this partnership, our Board of Directors has approved the externalization of our management structure, which we believe will enhance our ability to create long-term shareholder value through a strong strategic relationship and a streamlined fee structure,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital. “We have partnered with and invested alongside Magnetar in the past and are excited to expand that relationship in a more formal way. Magnetar brings significant scale with approximately $18 billion in assets under management, more than 20 years of investment experience, and a strong track record of investments in differentiated venture-backed artificial intelligence ecosystem, technology, and technology-enabled companies. We believe Magnetar’s expertise, particularly within the AI infrastructure ecosystem, will strengthen our ability to identify attractive investment opportunities, deepen our insight into emerging technology trends, and further enhance our successful long-standing investment strategy.” Mr. Klein continued, “As previewed on our last earnings call, we currently anticipate SuRo Capital’s net asset value as of March 31, 2026 to be between $14.00 and $14.50 per share. This substantial appreciation from year-end 2025 underscores the continued strength of several of our largest positions, including OpenAI’s recently announced financing and WHOOP’s announced Series G financing at a $10.1 billion valuat...