MCLEAN, VA / ACCESS Newswire / February 19, 2025 / Gladstone Securities LLC (an affiliated broker-dealer of The Gladstone Companies, Inc.) that acts as dealer manager on alternative investment offerings for certain affiliated Gladstone funds, including Gladstone Capital Corporation (Nasdaq: GLAD), Gladstone Land Corporation (Nasdaq: LAND) and Gladstone Commercial Corporation (Nasdaq: GOOD), announced the launch of Gladstone Alternative Income Fund (the “Fund”). Additional information can be found at the Fund’s website, www.gladstoneintervalfund.com. The Fund also anticipates that its board of trustees will declare, and the Fund will announce, its initial distribution rates (for the month of March) for all share classes during the week of March 3rd.
The Fund is a non-diversified, unlisted closed-end management investment company registered under the Investment Company Act of 1940 and is operating as an interval fund. It will seek to achieve and grow current income and seek 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 privately held investment adviser and sponsor, Gladstone Management Corporation (the “Adviser”). Additionally, Gladstone Capital Corporation (Nasdaq: GLAD) and Gladstone Investment Corporation (Nasdaq: GAIN) each invested $5 million, and each of Gladstone Capital and Gladstone Investment plans to co-invest with the Fund in future investment opportunities.
John Sateri, who has been with the Adviser since 2007, serves as President of the Fund. Mr. Sateri is also a member of the investment committee of all Gladstone funds (including Gladstone Capital and Gladstone Investment) 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, working with our Adviser’s mezzanine debt and syndicated loan teams.