NEW YORK, Oct. 13, 2016 (GLOBE NEWSWIRE) -- Medley Management Inc. ("Medley") (NYSE:MDLY), a leading credit-focused asset manager, today announced that David G. Richards will join Medley as a Managing Director and Portfolio Manager of the Sierra Total Return Fund. Mr. Richards will be based in New York.
Mr. Richards is a member of the board of directors at American Capital LTD and serves on its executive, audit, and strategic review committees. Prior to American Capital, Mr. Richards was a portfolio manager with Pine River Capital Management L.P., where he focused on credit and equity investments in the financial sector. Mr. Richards has also held positions with Goldentree Asset Management, Citadel Investment Group, Raymond James & Associates and SunTrust Banks, NA. He received a BS from Providence College and an MBA from Emory University.
“We are pleased to announce that Dave Richards has joined our senior investment team as portfolio manager for Sierra Total Return Fund,” said Brook Taube, CEO of Medley. “With the addition of Dave to our senior team, we are well positioned to continue the growth of our yield solutions for retail and institutional investors.”
David Richards commented, “I am delighted to be joining Medley and I look forward to contributing to the continued growth of Medley’s franchise.”
Medley is a credit-focused asset management firm offering yield solutions to retail and institutional investors. Medley’s national direct origination franchise, with over 80 people, is a premier provider of capital to the middle market in the U.S. Medley has over $5 billion of assets under management in two business development companies, Medley Capital Corporation (NYSE:MCC) and Sierra Income Corporation, as well as private investment vehicles. Over the past 14 years, Medley has provided in excess of $6 billion of capital to over 300 companies across 35 industries in North America.
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Medley Management Inc.
Medley Management Inc