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Potter Anderson Advises Special Committee on Deal Creating Company With $5 Billion of Assets Under Management

August 10, 2018

Sierra Income Corporation, Medley Capital Corporation (NYSE: MCC), and Medley Management Inc. (NYSE:MDLY) have entered into definitive agreements for Sierra to acquire MCC and MDLY. MCC will merge with and into Sierra, with Sierra as the surviving company. Simultaneously, Sierra will acquire MDLY, and MDLY’s existing asset management business will operate as a wholly owned subsidiary of Sierra.

The combined company will have over $5 billion of assets under management. Sierra is expected to be the second largest internally managed business development company and the seventh largest publicly traded BDC.

Potter Anderson advised the special committee of Medley Management Inc.’s board of directors. The team included partners Michael Tumas and Roxanne Houtman and associates David DiDonato and Elizabeth Bucilla.