Sierra Income Corporation Announces the Promotion of Dean Crowe to CEO
Sierra Income Corporation has announced the promotion of Dean Crowe to Chief Executive Officer, effective April 27, 2021. Crowe, who also retains his role as President, expressed gratitude towards the Board for their confidence. Sierra is a non-traded business development company focusing on investments in secured debt of middle-market companies. The firm targets businesses with annual revenues between $50 million and $1 billion, aiming for current income and long-term capital appreciation. Sierra is managed by SIC Advisors LLC, an affiliate of Medley Management Inc. (NYSE: MDLY).
- Promotion of Dean Crowe to CEO may enhance leadership and strategic direction.
- Sierra focuses on secured debt investments in middle-market companies, potentially reducing investment risk.
- Sierra's portfolio is vulnerable to economic downturns and uncertainties, including the ongoing effects of COVID-19.
- Dependence on successful capital management poses risks to financial performance.
NEW YORK, April 26, 2021 /PRNewswire/ -- Sierra Income Corporation ("Sierra" or the "Company") announced the promotion of Dean Crowe to Chief Executive Officer and his appointment to the Company's board of directors, effective April 27, 2021. Mr. Crowe said, "I am honored to be the new CEO of Sierra, and want to thank the Board for the confidence they've placed in me". Mr. Crowe is currently the President of Sierra and will retain this title.
About Sierra Income Corporation
Sierra is a non-traded business development company that invests primarily in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries with annual revenue between
About SIC Advisors LLC
SIC Advisors LLC is an affiliate of Medley Management Inc. (NYSE: MDLY, "Medley"). Medley is an alternative asset management firm offering yield solutions to retail and institutional investors. Medley's national direct origination franchise is a premier provider of capital to the middle market in the U.S. As of December 31, 2020, Medley had
Medley LLC, the operating company of Medley Management Inc., has outstanding bonds which trade on the New York Stock Exchange under the symbols (NYSE: MDLX) and (NYSE: MDLQ).
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including, without limitation: Sierra's continued effectiveness in investing and managing capital; adverse changes in the economy generally or in the industries in which Sierra's portfolio companies operate; uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets, the global and U.S. economy, the operational and financial performance of our portfolio companies, and liquidity; and such other factors described under the caption "Risk Factors" included in Sierra's filings with the Securities and Exchange Commission (www.sec.gov). Although Sierra believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Sierra undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in Sierra's expectations.
Investor Relations Contact:
Medley Management Inc.
212-759-0777
Media Contact:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co. LP
212-257-4170
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1 Medley Management Inc. is the parent company of Medley LLC and several registered investment advisers (collectively, "Medley"). Assets under management refers to assets of our funds, which represents the sum of the net asset value of such funds, the drawn and undrawn debt (at the fund level, including amounts subject to restrictions) and uncalled committed capital (including commitments to funds that have yet to commence their investment periods). Assets under management are as of December 31, 2020. |
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SOURCE Sierra Income Corp
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