Variant Alternative Lending Fund

Overview

The Variant Alternative Lending Fund, a closed end tender offer fund, is an asset-based lending strategy offering domestic and foreign investors access to a diversified portfolio of income-generating assets through primarily senior secured credit facilities. Asset-based lending is a type of credit investment targeting cash flowing loans secured by pools of assets, particularly those with idiosyncratic risk premia and limited sensitivity to interest rates and the broader economic cycle. The Fund’s primary objective is to provide a high level of current income to clients while seeking to prioritize capital preservation. Capital appreciation will be considered a secondary objective. 90% or more of the portfolio will be invested in senior secured credit facilities. At origination, 80% of new investments will be of a maturity length of 4 years or less, and all deal counterparties will be United States domiciled. This tender offer fund will provide investors with daily pricing and purchases through subscription documents, as well as quarterly liquidity on a best-efforts basis.

Documents

The Variant Alternative Lending Fund (the “Fund”) is a continuously-offered, non-diversified, registered closed-end fund with limited liquidity. The Fund is new and has limited operating history. There is no guarantee the Fund will achieve its objective.  An investment in the Fund should only be made by investors who understand the risks involved, who are able to withstand the loss of the entire amount invested and who can bear the risks associated with the limited liquidity of Shares.

Important Risks: Given the substantial investment by the Funds in private securities, there is no reliable liquid market available for the purposes of valuing the majority of the Funds’ investments. There can be no guarantee that the basis of calculation of the value of the Funds’ investments used in the valuation process will reflect the actual value on realization of those investments.

Shares are an illiquid investment. You should generally not expect to be able to sell your Shares (other than through the repurchase process), regardless of how the Fund performs. The Fund may repurchase a limited number of shares each quarter.

An investment in the Fund is speculative, involves substantial risks, including the risk that the entire amount invested may be lost, and should not constitute a complete investment program. The Fund may leverage its investments by borrowing, use of swap agreements, options or other derivative instruments. The Fund is a non-diversified, closed-end management investment company, meaning it may be more susceptible to any single economic or regulatory occurrence than a diversified investment company. In addition, the fund is subject to investment related risks of the underlying exposures, general economic and market condition risk.

Alternative investments provide limited liquidity and include, among other things, the risks inherent in investing in securities, futures, commodities and derivatives, using leverage and engaging in short sales.  The Fund’s investment performance depends, at least in part, on how its assets are allocated and reallocated among asset classes and strategies. Such allocation could result in the Fund holding asset classes or investments that perform poorly or underperform.  The Fund may pay distributions in significant part from sources that may not be available in the future and are unrelated to the Fund’s performance, such as return of capital, offering proceeds, borrowings and amounts obtained from the Fund’s affiliates that are subject to repayment by investors. Investments and investment transactions are subject to various counterparty risks. The counterparties to transactions in over the-counter or “inter-dealer” markets are typically subject to lesser credit evaluation and regulatory oversight compared to members of “exchange-based” markets. This may increase the risk that a counterparty will not settle a transaction because of a credit or liquidity problem, thus causing the Fund to suffer losses.  The Fund and its service providers may be prone to operational and information security risks resulting from breaches in cyber security.  A breach in cyber security refers to both intentional and unintentional events that may cause the Fund to lose proprietary information, suffer data corruption, or lose operational capacity.

BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER THE FUND’S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES.  THIS AND OTHER INFORMATION IS IN THE PROSPECTUS, A COPY OF WHICH MAY BE OBTAINED FROM (877) 770-7717 OR WWW.VARIANTINVESTMENTS.COM.  PLEASE READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST.

Funds Distributed by UMB Distribution Services, LLC.  Not affiliated with Variant Investments