Public Debt & Equity Offerings (BDCs)


Open Credit and Direct Lending Funds

Additional Fund Information

Greenbacker Renewable Energy Company

– 6.82% Distribution Rate (Non-Taxable)

– $1,000,000,000 Offering

– $8.92 Offering Price   Institutional Shares*

RIA (Net of Commission) Shares Available?  Yes1 Asset Class:  Renewable Energy Facilities Investment Objective: Long term investment seeking durable & predictable income Expected Hold Period: 3 – 5+ years after fund closes to new investors Click Here for Sponsor’s Website  *  Click Here for Investor Video  *  Click Here for Prospectus Opening Date: March 2014 Expected Close Date: 2018 Fund Market Cap: $350,000,000 Greenback is a Publicly Registered, Non-Listed LLC; Tax-Reporting = K1


Fund Description

By pooling investors’ capital, Greenbacker expects to acquire and monitor a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable development investments.

Greenbacker has the flexibility to invest throughout the corporate capital structure, a strength that helps it seek the best available risk-adjusted investment opportunities.

  • Acquire and finance the construction and operation of income-generating renewable energy, energy efficiency, and sustainable development projects, primarily within, but also outside of, North America
  • Generate attractive risk-adjusted returns for our members
  • Provide both current income and long-term capital appreciation

Investment Process:   Greenbacker employs a disciplined investment process that includes a thorough screening process, proprietary analytical and evaluation tools, rigorous due diligence, and comprehensive, periodic monitoring of its investments.

Business Objectives1

Generate current income and, to a lesser extent, long-term capital appreciation

1) There is no guarantee that these investment objectives will be met. Greenbacker includes substantial fees, expenses and sales charges that may materially reduce an investor’s return.



Cion Investment Corporation  –  $965,000,000 (Follow-On Offering)

$9.65 Offering Price  7.58% Distribution Rate – A Shares

RIA (Net of Commission) Shares Available?  Yes

Asset Class:  Diversified Loans

Click Here for Sponsor’s Website

Opening Date: July 2012      Expected Close Date (Follow-On): 2018

Estimate of funds raised since inception: $1,117,567,000 (As of Dec 31 2016)


Fund Description

CION is a non-traded business development company, or BDC, that focuses on middle market loans. CION seeks to generate current income, and to a lesser extent, capital appreciation. TARGET INVESTMENTS: CION offers investors the opportunity to invest primarily in: § Senior secured debt § Private and thinly-traded U.S. middle market companies SUITABILITY: § Net worth of $70,000, plus $70,000 of annual gross income; or § Net worth of $250,000 In addition to general suitability requirements, there are state-specific suitability requirements that must be met. For complete information, please refer to the suitability section of the prospectus. Net worth requirements are exclusive of home, home furnishings and automobiles. FUND DATA: Total Equity Raised: $1,117,566,930 Investment Minimum: $5,000 Distribution Reinvestment Price: The estimated net asset value per share on the date of purchase. Cash Flow Objective: To provide monthly distributions Tax Reporting: Form 1099 Investment Minimum: $5,000 Distribution Reinvestment Price: The estimated net asset value per share on the date of purchase. Cash Flow Objective: To provide monthly distributions1 Tax Reporting: Form 1099 1 Source:http://www.cioninvestments.com/wp-content/uploads/CION-Fund-Fact-Sheet.pdf  2 There can be no assurance that CION will meet these objectives. View Investment Overview, Suitability & Important Disclosures: http://www.cioninvestments.com/wp-content/uploads/CION-Investment-Corporation-Risk-Factors.pdf



Sierra Income Corporation  –  $690,000,000 (Follow-On Offering)

$9.05 Offering Price  7.53% Distribution Rate – (A Class Shares)

RIA (Net of Commission) Shares Available?  Yes

Asset Class:  Diversified Loans

Click Here for Sponsor’s Website

Click Here for Prospectus & SEC Filings

Opening Date: June 2012      Expected Close Date: 2018

Fund Market Cap: $1,183,700,000 (As of Dec 31 2016)


About Medley (Sub Advisor) and Sierra

Medley is an alternative 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 March 31, 2017, 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 vehicles1. Over the past 15 years, Medley has provided capital to over 350 companies across 35 industries in North America.2

WHY SIERRA?
ATTRACTIVE DISTRIBUTIONS1 Sierra offers attractive monthly distributions POTENTIAL DOWNSIDE PROTECTION Sierra focuses on senior debt FAVORABLE MARKET There is opportunity in the U.S. middle market primarily driven by bank consolidation EXPERIENCED TEAM Sierra uses the resources of Medley’s 85+ person team that has provided capital to over 350 companies in private debt strategies over the last 15 years2 SPONSOR COMMITMENT SIC Advisors has invested $10 Million in Sierra

CLICK HERE FOR FACT SHEET

Source: http://www.sierraincomecorp.com/AboutMedley.html There can be no assurance that Sierra will achieve investment results similar to Medley. 1) This information is provided by SIC Advisors, Sierra’s investment advisor and is as of March 31, 2017. 2) Medley Management Inc. is the parent company of Medley LLC and several registered investment advisors (collectively, ”Medley”). Assets under management refers to assets of Medley’s funds, which represents the sum of the net asset value of such funds, the drawn and undrawn debt (at the fund level, including amounts subject to restrictions) and uncalled committed capital (including commitments to funds that have yet to commence their investment periods). Assets under management are as of March 31, 2017. SIC Advisors LLC is an investment adviser registered under the Investment Advisers Act of 1940, as amended. NOT AN OFFER TO SELL SECURITIES The material in this Website 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. This sales and advertising literature is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus. This literature must be read in conjunction with the prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. A copy of the prospectus must be made available to you in connection with any offering. No offering is made except by a prospectus filed with the Department of Law of the State of New York or any other state. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any state securities regulator has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. SC Distributors, LLC (member FINRA/SIPC) is the affiliated dealer manager for the Sierra Income Corporation offering.


Terra Income Fund 6  –  $1,00,000,000 (Follow-On Offering)

$10.90 Offering Price  9.17% Distribution Rate – (A Class Shares)

RIA (Net of Commission) Shares Available?  Yes

Asset Class:  Diversified Loans / Real Estate Loans

Click Here for Sponsor’s Website

Click Here for Prospectus & SEC Filings

Opening Date: April 2015      Expected Close Date: 2018

Estimate of Fund Market Cap: $75,000,000 (As of May 2017)


Terra 6 expects to pool investors’ capital, make loans secured by commercial real estate on attractive terms, hold those loans until they mature and then distribute principal back to investors.

Terra’s management sees two primary drivers creating the favorable opportunities for providing commercial real estate loans: (1) the reduced amount of credit available to borrowers from traditional lending sources, and(2) an increasing number of commercial real estate loan maturities. (2) an increasing number of commercial real estate loan maturities. Specifically:

  • The availability of mortgage financing is down significantly and currently banks are constrained by regulatory requirements.
  • An unprecedented amount of commercial real estate debt is set to mature through 2017, much of which was originated at the peak of the past market cycle
  • There is a shortfall between the amount of maturing debt and the amount of new first mortgage debt available.
Types of Loans

The loans that Terra 6 makes will include first mortgages and “mezzanine” loans. This latter category has constituted the majority of Terra’s lending activity over its history. When a property is sold, the first mortgage is paid off first, then the mezzanine loan is paid in full, and finally the property owner gets the remaining sales proceeds. The owner receives nothing unless and until the mezzanine lender is paid in full. This is true whether the owner is an individual, a REIT or a business.

The Opportunity

The volume of new 10-year commercial real estate mortgages was at record levels 10 years ago, creating a wall of maturities from 2015 to 2017. When they mature, these loans must be paid off and that requires obtaining a new loan. This high demand to replace maturing real estate loans, combined with limited supply, is on track to create a void of hundreds of billions of dollars over the next several years — and keeping their interest rates high.

CLICK HERE FOR FACT SHEET
Source: http://www.terrafund6.com/ There can be no assurance that Terra Income Fund 6 will achieve investment results. NOT AN OFFER TO SELL SECURITIES The material in this Website 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. This sales and advertising literature is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus. This literature must be read in conjunction with the prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. A copy of the prospectus must be made available to you in connection with any offering.