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Sierra Income Corp. BDC Crosses $1B in Total Investments

September 06, 2017, 07:00 AM
Filed Under: Industry News

Sierra Income Corporation, a non-traded business development company investing in middle market companies, announced it invested more than $220 million in the first half of 2017, bringing its total investments to over $1 billion. 

“Sierra was highly active in the first half of 2017, providing capital to companies operating in 20 different industries across the U.S.,” said Seth Taube, Chairman and Chief Executive Officer of Sierra. “We continue to seek strong opportunities in the middle market, with attractive yields and structures.”

Investment highlights for the first half of 2017 include senior secured first lien term loans made to:

  • A leading provider of electronic health record and health information technology
  •  An engineer and manufacturer of high-performance air conditioning products
  • A provider of asset-light transportation management services
  • One of the largest dental practice management companies
  • A provider of car protection products and services to auto dealers
  • A provider of professional landscape maintenance services

As of June 30, 2017, Sierra’s middle market loan portfolio exceeded $1 billion, comprised of 144 holdings, diversified across 27 distinct sectors, of which 84% was senior secured.

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