NEW YORK--(BUSINESS WIRE)--Medley Management Inc. (NYSE: MDLY), a credit-focused asset management firm, today announced the launch of Sierra Total Return Fund, a closed-end investment management company that is operated as an interval fund.

The Fund seeks to achieve total returns 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 expects to achieve these investment objectives through a disciplined and balanced allocation among four distinct asset strategies, including public and private credit, public investment funds, private investment funds and other structured credit products.

“The Fund is designed to allow shareholders access to both public and private securities at all levels of the capital structure,” said Seth Taube, the Fund’s Chief Executive Officer. “Through the Fund, retail investors have the opportunity to invest in an institutional credit strategy that offers an attractive alternative in today’s yield-starved 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 for regular accounts or retirement plan accounts. 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.

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 a credit-focused 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 December 31, 2016, Medley had in excess of $5.3 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 14 years, we have provided in excess of $6 billion of capital to over 350 companies across 35 industries in North America.