Destra Acquires Closed-End Interval Fund
Multi-Strategy Growth & Income Fund, a closed-end interval fund, was acquired by Destra Capital Advisors LLC and renamed the Destra Multi-Alternative Fund.
Multi-Strategy Growth & Income Fund, a closed-end interval fund, was acquired by Destra Capital Advisors LLC and renamed the Destra Multi-Alternative Fund. The fund will retain its current managers, Pinhook Capital LLC (formerly LCM Investment Management), which is now in a sub-advisory role.
The Multi-Strategy Growth & Income Fund invests primarily in real estate investment trusts, debt and equity income securities, and alternative investment funds.
Destra Capital Investments LLC was appointed as sub-distributor in August 2018 to distribute the fund to brokers, advisors and financial intermediaries. The principal distributor is Northern Lights Distributors LLC.
“We are excited to bring this important product on to our investment platform at Destra,” said Dominic Martellaro, CEO of Destra. “We have taken great strides in the last 18 months to position Destra as a premier specialist in the alternative investment marketplace.
He added, “With the addition of the newly-renamed Destra Multi-Alternative Fund, we now have five distinct, alternative-oriented offerings currently in our suite. We see this fund and its strategy as instrumental to growing our alternatives platform with advisors.”
The Destra Multi-Alternative Fund oversees a nearly $200 million investment portfolio and has raised approximately $267 million in investor equity since launching in 2012, according to Summit Investment Research. Pinhook Capital is a registered investment advisor that manages approximately $600 million in discretionary and non-discretionary assets under management.
