Gladstone Interval Fund Anticipates Initial Distribution Rates in March
Gladstone Alternative Income Fund – a non-diversified closed-end investment company operating as an interval fund and declared effective by the U.S. Securities and Exchange Commission in November 2024 – is planning to announce initial distribution rates for all share classes during the week of March 3.
The interval fund continuously offers common Class A, Class C, Class I and Class U shares, and may offer additional classes of shares in the future.
Its investment adviser is Gladstone Management Corporation.
The company seeks to achieve and grow current income and long-term capital appreciation in the value of its assets by investing in several categories of debt and equity securities in lower- and middle- private market businesses in the United States. The fund expects that its investment portfolio over time will consist of approximately 85% in debt securities (primarily directly originated loans, broadly syndicated loans or commercial real estate loans) and 15% in equity securities.
The fund was seeded with more than $20 million from the fund’s affiliates and personnel, including more than $10 million from The Gladstone Companies Inc., the parent company of the fund’s investment adviser and sponsor. Additionally, Gladstone Capital Corporation (Nasdaq: GLAD) and Gladstone Investment Corporation (Nasdaq: GAIN) each invested $5 million, and according to the fund, each of Gladstone Capital and Gladstone Investment plans to co-invest with the fund in the future.
John Sateri, who has been with the investment adviser since 2007, serves as president of the interval fund. Sateri is also a member of the investment committee of all Gladstone funds and is responsible for helping the adviser originate debt and equity investments in privately held companies.
Others responsible for the day-to-day management of the fund are David Gladstone, founder and chief executive officer of all Gladstone funds since inception, and Laura Gladstone, executive vice president of the adviser, who also serves on the adviser’s investment committee for all Gladstone funds and has been with the organization since 2001.
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