NEW YORK, Jan. 28, 2015 (GLOBE NEWSWIRE) -- Effective December 31, 2014, Medley completed its role as investment manager of Medley's first private debt fund, Medley Opportunity Fund I LP and Medley Opportunity Fund I Ltd (collectively "MOF I"). MOF I was launched in 2006. Medley is transitioning management of the residual assets in MOF I to Crestline-Kirchner, L.P. The transition to Crestline-Kirchner was made following consultation with investors, the Offshore Fund's board of directors and Medley.
The transition allows Medley to concentrate on its core lending business. "We are pleased to have Crestline-Kirchner overseeing the monetization of the residual MOF I assets," commented Brook Taube, Chief Executive Officer of Medley Management Inc.
Medley is an 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. As of September 30, 2014, Medley had in excess of $3.6 billion of investable capital in business development companies, Medley Capital Corporation (NYSE:MCC) and Sierra Income Corporation, and private investment vehicles. Over the past 12 years, we have invested in excess of $5.1 billion to help over 285 companies grow across 35 industries in North America. For additional information, please visit Medley Management Inc. at www.mdly.com.
CONTACT: Sam Anderson 212.759.0777Medley Management Inc