Medley Announces Sierra Total Return Fund Now Available to Investors
06 June 2017 - 11:32PM
Medley Management Inc. ("Medley") (NYSE:MDLY), an alternative asset
management firm, today announced that Sierra Total Return Fund
(NASDAQ:SRNTX) (or the “Fund”) is now available to individual
investors through Class T shares.
The Fund seeks to provide a total return through
a combination of current income and long-term capital appreciation
by investing in a portfolio of debt securities and fixed-income
related equity securities. The Fund expects to achieve these
investment objectives through a disciplined and balanced allocation
among four distinct asset strategies, including public and private
credit, public investment opportunities, private investment
opportunities and pooled credit.
“The Fund provides individuals access to invest
in public and private securities through an institutional-quality
credit strategy,” said Seth Taube, the Fund’s Chief Executive
Officer. “Medley is pleased to announce that our newest Sierra Fund
is now available to investors, offering what we believe to be an
attractive alternative in today’s fixed income market.”
The Fund is a non-diversified, closed-end
investment management company that is operated as an interval fund
that continuously offers its shares on a daily basis. The Fund
requires a minimum initial investment of $2,500. To provide
liquidity to shareholders, the Fund intends to make quarterly
offers to repurchase its outstanding shares at net asset value.
There can be no assurance, however, that the Fund will be able to
provide this intended level of liquidity.
This is neither an offer to sell nor a
solicitation of an offer to buy the securities described herein. An
offering is made only by a prospectus. Investors should carefully
consider the investment objectives, risks, charges and expenses of
the Fund. This and other important information about the Fund is
contained in the prospectus, a copy of which is available at
www.sierratotalreturnfund.com.
About Sierra Total Return Fund
Sierra Total Return Fund is a closed-end
investment management company that is operated as an interval fund.
The Fund’s investment objective is to achieve total return through
a combination of current income and long-term capital appreciation
by investing in a portfolio of debt and fixed-income related equity
securities. The Fund is sponsored by Medley and externally managed
by STRF Advisors LLC, which is a registered investment adviser
under the Investment Advisers Act of 1940, as amended. For
additional information, please visit Sierra Total Return Fund’s
website at www.sierratotalreturnfund.com.
About Medley
Medley is an alternative asset management firm
offering yield solutions to retail and institutional investors.
Medley’s national direct origination franchise, with over 85
people, is a premier provider of capital to the middle market in
the U.S. As of March 31, 2017, Medley had $5.5 billion of
assets under management in two business development
companies, Medley Capital Corporation (NYSE:MCC)
and Sierra Income Corporation, as well as private investment
vehicles. Over the past 15 years, Medley has provided capital to
over 350 companies across 35 industries in North America.
Medley LLC, the operating company of Medley Management Inc.,
has outstanding bonds which trade on the NYSE under the
symbols (NYSE:MDLX) and (NYSE:MDLQ). Medley Capital
Corporation (NYSE:MCC) has outstanding bonds which trade on
the NYSE under the symbols (NYSE:MCV) and (NYSE:MCX).
Forward-Looking Statements
Statements included herein may contain
“forward-looking statements”. Statements other than statements of
historical facts included in this press release may constitute
forward-looking statements and are not guarantees of future
performance or results and involve a number of assumptions, risks
and uncertainties, which change over time. Actual results may
differ materially from those anticipated in any forward-looking
statements as a result of a number of factors, including those
described from time to time in filings by the Fund with the
Securities and Exchange Commission. Except as required by law, the
Fund undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
Investor Relations Contact: Sam AndersonHead of Capital Markets
& Risk ManagementMedley Management Inc.212-759-0777
Media Contact: Liz BruceTeneo Strategy917-733-0876
Medley Capital (NYSE:MCV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Medley Capital (NYSE:MCV)
Historical Stock Chart
From Jul 2023 to Jul 2024