The Gladstone Companies, an independent alternative asset management firm, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
Gladstone is an independent US alternative asset manager with approximately $4.0 billion in AUM as of December 31, 2021. Its alternative asset management businesses include the management of: GAIN, a business development company (BDC) which primarily invests in debt and equity securities of private lower middle market businesses in the US; GLAD, a BDC which primarily invests in debt securities of established private lower middle market businesses in the US; GOOD, a REIT which focuses on office and industrial properties in the US; and Gladstone Land Corporation, a REIT and natural resources company that focuses on farmland in the US.
The McLean, VA-based company was founded in 2001 and booked $77 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol GC. The Gladstone Companies filed confidentially on November 9, 2021. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
