Intends to create an investment portfolio that generates superior risk‐adjusted returns by investing primarily in senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt in small and middle market U.S. companies.

Offering Size Maximum offering size of $1.5 billion
Type Non-traded, publicly registered business development company (“BDC”)
Target Investments Senior debt of U.S., middle market companies with enterprise values from $50 million to $4 billion
Strategy Given its significant origination capabilities, Sierra drives most facets of the lending process, including sourcing, structuring and servicing loans, the potential benefits of which can include higher yields, greater control and enhanced risk management.
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Sierra’s origination strategy targets senior positions in a company’s capital structure and typically results in more control over the lending process and higher yield potential relative to comparable purchased debt securities.

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