Forward-Looking StatementsStatements 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
NEW YORK, June 06, 2017 (GLOBE NEWSWIRE) -- 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).