Sierra Income Corporation and Medley Receive Co-Investment Exemptive Relief from SEC

  Sierra Income Corporation and Medley Receive Co-Investment Exemptive Relief
  from SEC

Business Wire

NEW YORK -- December 4, 2013

On November 25, 2013, Sierra Income Corporation (“SIC”), a business
development company (“BDC”) whose strategy is to invest in the debt of
privately owned U.S. companies with a focus on senior secured debt, second
lien debt and, to a lesser extent, subordinated debt, received an exemptive
order from the Securities and Exchange Commission (the “Order”) that allows
SIC to participate in negotiated co-investment transactions with other funds
managed by affiliates of its investment adviser, SIC Advisors LLC, subject to
the conditions included in the Order. Affiliated funds that SIC can now
co-invest with include Medley Capital Corporation (“MCC”), a NYSE-listed BDC.

“The Order gives SIC greater flexibility with respect to its investment
options going forward and will allow SIC to more effectively and efficiently
deploy capital across a larger pool of directly originated transactions,”
stated Seth Taube, CEO of SIC. “We believe having access to a broader pipeline
of opportunities will benefit our shareholders as we seek the best available
risk-adjusted investments over time.”

About Sierra Income Corporation

SIC is a non-traded, externally managed, non-diversified closed end management
Investment Company that has filed an election to be treated as a business
development company under the Investment Company Act of 1940, as amended. The
Company’s investment objective is to generate current income, and to a lesser
extent, long-term capital appreciation. The Company invests primarily in
senior secured debt, second lien debt and, to a lesser extent, subordinated
debt of U.S. small and middle market companies with enterprise values ranging
from approximately $50 million to $4 billion. SIC’s investment activities are
managed by its investment adviser, SIC Advisors LLC, which is an investment
adviser registered under the Investment Advisers Act of 1940, as amended.

About SIC Advisors LLC

SIC Advisors LLC, an affiliate of Medley LLC (“Medley”), is a registered
investment adviser under the Investment Advisers Act of 1940, as amended.
Medley specializes in credit investing, including direct private lending and
corporate credit related strategies and provides first lien, second lien and
unitranche term loans to lower middle-market and middle-market companies with
an investment size between $7 and 50 million. Medley supports acquisition and
growth financings, leveraged buyouts, management buyouts, bank debt
restructurings, CAPEX, Chapter 11 exit financing and DIP financing. Medley is
headquartered in New York with offices in San Francisco.

Contact:

Sierra Income Corporation
Richard Allorto
Chief Financial Officer
212-759-0777
 
Press spacebar to pause and continue. Press esc to stop.