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.

KEY FACTS
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.

NOT AN OFFER TO SELL SECURITIES
The material in this Web site does not constitute an offer to sell, nor a solicitation of an offer to buy the securities described herein. Such an offering is made only by means of a prospectus. The prospectus must be read in order to understand fully all the implications and risks of any offering of securities to which it relates. A copy of the prospectus must be made available to you in connection with an offering. Neither the Securities and Exchange Commission, the attorney General of the state of New York nor any other state securities regulator has approved or disapproved of these securities or determined the prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Investing involves a high degree of risk and there is no assurance that investment objectives of these programs will be met. Refer to the prospectus for suitability standards in your state. Please contact your Financial Advisor for more Information. Securities offered through SC Distributors, LLC member FINRA and SIPC.