Medley Launches New Non-Traded Business Development Company – Sierra Income Corporation

(New York, NY), Medley LLC, a registered investment adviser with $1.5 billion of assets under management, announced today that the registration statement pertaining to a public offering of up to $1.5 billion in common stock for Sierra Income Corporation (“Sierra”), a non-traded business development company (“BDC”), was declared effective as of April 16, 2012, by the United States Securities and Exchange Commission. Sierra is managed by SIC Advisors, LLC (“SIC”), which is an affiliate of, and majority owned by, Medley LLC.

Sierra’s launch is being bolstered by a $10 million investment by SIC, which firmly aligns its interests with that of future shareholders. SIC will be admitted to the fund at the same net share price as initial investors in the public offering.

Sierra expects to leverage the institutional experience of Medley LLC’s management team to invest primarily in the senior debt of U.S. middle market companies. According to Seth Taube, CEO of Sierra and Managing Partner of Medley LLC, “Institutional investors have relied upon middle market debt for years to help manage risk and diversify their income oriented investments. With Sierra Income Corporation, individual investors can now utilize a similar strategy by accessing the full breadth and depth of Medley’s institutional capabilities and middle market expertise.”

Sierra expects to create a diversified portfolio by both originating and purchasing middle market debt investments. The common stock will initially be priced at $10 per share and its net asset value will be determined on a quarterly basis in accordance with the requirements of the Investment Company Act of 1940.  Shares of Sierra will be made available through SC Distributors, LLC, a FINRA/SIPC member and the affiliated dealer manager of the offering.

About Sierra Income Corporation

Sierra is a non-traded BDC focused on creating a diversified investment portfolio that generates superior riskadjusted returns to provide stockholders with current income, and to a lesser extent, long-term capital appreciation. To accomplish this goal, Sierra plans to invest primarily in senior secured debt, second lien debt and, to a lesser extent, subordinated debt of U.S. middle market companies with enterprise values ranging from approximately $50 million to $4 billion.

About Medley

Medley LLC is a registered investment adviser with $1.5 billion of assets under management across both private and public funds. The firm specializes in credit investing, including direct private lending and corporate credit related strategies. Medley is headquartered in New York with offices in San Francisco. The members of Medley’s management team have on average over 20 years of experience in finance, transaction sourcing, credit analysis, transaction structuring, due diligence and investing.