Medley Management, an alternative asset manager with $3.3 billion of AUM, filed on Monday with the SEC to raise up to $150 million in an initial public offering.
The company launched Medley Capital ( MCC ), its first permanent capital vehicle, in 2011 as a business development company. It also manages Sierra Income Corporation, which is offered on a continuous basis to investors over 110 broker dealers representing 27,800 RIAs. At the end of June, it has $3.3 billion of AUM, up from $2.0 billion one year ago.
The New York, NY-based company, which was founded in 2006 and booked $60 million in total revenue for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol MDLY. Medley Management initially filed confidentially on June 23, 2014. Goldman Sachs and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.
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