CHICAGO--(BUSINESS WIRE)--Dec 7, 2018--Destra Capital Advisors LLC (“Destra”) is pleased to announce that it has acquired the fund formerly known as Multi-Strategy Growth & Income Fund (the “Fund”) in a fund adoption approved by both the Fund’s board and its shareholders by proxy completed in late-November. The Fund’s new name is the Destra Multi-Alternative Fund, effective immediately. The Fund will retain its current managers, Pinhook Capital, LLC (“Pinhook Capital”), now in a sub-advisory role.
“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. 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 Fund is one of the oldest and most tenured closed-end interval funds in the market. It has a mandate to invest for total return with an emphasis on current income. The team at Pinhook Capital has successfully managed the Fund through its multi-alternative strategy and will continue to manage the portfolio as the sub-adviser to the Fund.
“We saw a great opportunity to partner with Destra, which we believe will be important and meaningful to both the Fund and firm,” said Ray Lucia Jr., CEO of Pinhook Capital. “We look forward to benefiting from Destra’s deep experience with alternative investments, fund operations and business development. Given the current market environment, it feels this partnership came together at the right time for each of our firms and the investors in the fund.”
The Fund is a continuously offered, non-diversified, closed-end interval fund that has an investment objective to seek returns from capital appreciation and income with an emphasis on income generation. The Fund pays income monthly, and quarterly redemption offers of no less than 5% of shares outstanding*. The Fund seeks to achieve long-term performance non-correlated to the broad stock and bond markets. It invests primarily in real estate investment trusts, debt and equity income securities, and alternative investment funds.
For more information about Destra or the Destra Multi-Alternative Fund, please contact Robert A. Watson, President of Destra Capital Advisors LLC and the Fund, at 877-855-3434. For more information about Pinhook Capital, LLC, please Emily Paup at 800-644-1150.
About Pinhook Capital, LLC
Pinhook Capital, LLC is a registered investment advisor specializing in multi-asset investment solutions with an emphasis on alternative strategies. In total, Pinhook manages roughly $600 million in discretionary and non-discretionary assets under management.
About Destra Capital Investments, LLC
Destra Capital connects financial advisors and their clients with innovative investment strategies, in uniquely positioned products from experienced asset managers. Destra takes the long view, setting goals to rise above fleeting market statistics toward the opportunity for long-term returns. Destra Capital Investments LLC is a member FINRA/SIPC.
The Destra Multi-Alternative Fund (the “Fund”) is distributed by Northern Lights Distributions, LLC, member FINRA/SIPC. Destra Capital Investments LLC, and Pinhook Capital, LLC are not affiliated with Northern Lights Distributors, LLC.
*Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for up to 5% of the shares outstanding at net asset value. The Fund’s distribution policy is expected to result in distributions that equal a fixed percentage of the Fund’s current net asset value per share. All or a portion of a distribution may consist of a return of capital (i.e. from your original investment). Shareholders should not assume that the source of a distribution from the Fund is net profit.
Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. The prospectus and summary prospectus contain this and other information relevant to an investment in the fund. Please read the prospectus or summary prospectus carefully before you invest or send money. To obtain a prospectus, please contact your investment representative or Destra Capital Investments LLC at 877.855.3434.
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CONTACT: Rob Watson
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Destra Capital Advisors LLC
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PUB: 12/07/2018 10:13 AM/DISC: 12/07/2018 10:13 AM