Daily News: December 19, 2012

Gladstone’s Stelljes to Transition to New Investment Vehicles


The Gladstone Companies announced that Chip Stelljes, the firm’s chief investment officer, will be transitioning away from day-to-day activities at the three existing Gladstone Funds to devote his efforts to creating and managing new investment vehicles for the Gladstone family of companies.

Stelljes currently serves as a director and an officer of each of the Gladstone Funds (Gladstone Capital Corporation, Gladstone Investment Corporation and Gladstone Commercial Corporation). He serves as co-vice chairman, chief investment officer and assistant secretary of Gladstone Investment, co-vice chairman, chief investment officer and assistant secretary of Gladstone Commercial, and president, chief investment officer and assistant secretary of Gladstone Capital.

In April 2008, Stelljes turned over the presidency of Gladstone Investment to the fund’s current president, David Dullum. In June 2012, Stelljes was succeeded as president of Gladstone Commercial by current president, Robert Cutlip. In anticipation of Stelljes resigning as president of Gladstone Capital, management has begun a search for his replacement. After he steps down from the Gladstone Funds, he will continue to perform his duties as an officer and director of the investment adviser, Gladstone Management. Stelljes will devote most of his time to new initiatives but will be available to assist in the management of the funds as needed.

The Gladstone Companies are providers in private equity, debt and real estate ownership and financing.