Sierra Income Corporation Names New CEO
The board of Sierra Income Corporation, a non-traded business development company, has appointed Dean Crowe, the company's president, as chief executive officer to replace Seth Taube.
The board of Sierra Income Corporation, a non-traded business development company, has appointed Dean Crowe, the company’s president, as chief executive officer to replace Seth Taube, who resigned as CEO and as a director, effective as of April 27, 2021.
According to a filing with the Securities and Exchange Commission, in submitting his resignation, “Taube did not express any disagreement on any matter relating to the company’s operations, policies or practices.”
Crowe, who will also serve as a Class III director for a term that expires at the 2021 annual meeting of stockholders, has served as Sierra’s president since March 2020 and as a senior portfolio manager since April 2012. He also serves as a senior managing director at affiliate Medley (NYSE: MDLY), a position he has held since August 2015.
Crowe served as Sierra’s chief operating officer from August 2015 through March 2020, and head of investing of Medley from December 2015 to March 2020, upon becoming president of Sierra.
Prior to joining Medley, he was a portfolio manager with UBS O’Connor, the alternative investment subsidiary of UBS Asset Management, where he managed corporate credit investments and the O’Connor Credit Arbitrage Fund.
Before joining UBS, Crowe held various positions at Merrill Lynch in New York, where he managed proprietary credit trading. He started his career with Salomon Brothers in New York, where he traded and invested in privately placed corporate debt. Crowe holds a bachelor’s degree in accounting from James Madison University.
Sierra is a non-traded business development company that invests primarily in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a range of industries with annual revenue between $50 million and $1 billion. The BDC’s portfolio has 83 holdings totaling nearly $604 million. Sierra is externally managed by SIC Advisors LLC, an affiliate of Medley (NYSE: MDLY).
