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Offering Highlights

Investment Structure

A limited liability company, regulated as a direct participation program, taxed as a partnership

Investment Managers1

Manager: CNL Strategic Capital Management, LLC

Sub-Manager: Levine Leichtman Strategic Capital, LLC

Investment Profile

Suitable retail and institutional investors

Maximum Offering Size

Up to $1.1 billion

Net Asset Value (NAV)2

Class A: $26.44
Class T: $26.54
Class D: $26.23
Class I: $26.55

Published Net Asset Value (NAV)


Offering Price Per Share3

Class A: $28.90
Class T: $27.86
Class D: $26.23
Class I: $26.55

Share Pricing Frequency3


Minimum Investment


Annualized Distribution Rate4

Class A: 4.32%
Class T: 3.58%
Class D: 4.28%
Class I: 4.70%

Share Subscription Procedure

Monthly escrow sweep

Geographic Focus

United States, with the opportunity for limited international investments

Investment Objective

Long-term growth and income to suitable retail and institutional investors 


Declared and paid monthly

Limited Share Repurchase Program

Beginning no later than March 2019, and at the discretion of the board of directors, CNL Strategic Capital intends to commence a quarterly share repurchase program. If implemented, there will be numerous restrictions that limit an investor’s ability to sell their shares. The share repurchase program may be suspended, modified or terminated by the board of directors at any time.

Tax Reporting

One consolidated Schedule K-1; best efforts to provide no later than mid-March

Exit Strategy

The board of directors intends to consider liquidity event options within six years from the termination of the public offering. Shares should only be purchased as a long-term investment.

Financial Suitability Standards

$250,000 net worth or $70,000 net worth and $70,000 annual gross income (excluding home, furnishings and personal automobiles). Some states may have additional standards. These states include AL, CA, IA, ID, KS, KY, MA, ME, MO, ND, NE, NJ, NM, OH, OK, OR, PA, TN and VT. See the Suitability Standards section of the prospectus.


Closed Offering Highlights6


Class FA: $26.65

Annualized Distribution Rate4

Class FA: 4.69%


There is no assurance the stated objectives will be met. CNL Strategic Capital pays substantial fees and expenses, which will reduce the amount of cash available for acquisitions or distributions to shareholders. Read the prospectus for complete details on the risks, fees and expenses.
Each an investment adviser registered with the U.S. Securities and Exchange Commission.
Effective as of Dec. 31, 2018. Asset valuations will be estimates of fair value and do not represent the amount an investor would receive now or at any time in the future. CNL Strategic Capital’s valuation is inherently subjective, and the NAV may not accurately reflect the actual price at which its assets could be liquidated. The realized value of shares will be dependent upon market conditions that are beyond anyone’s ability to control or predict.
Effective as of Jan. 29, 2019. The offering price will be adjusted monthly, in connection with the valuation, to ensure shares are sold at a value that, after deducting commissions and dealer manager fees, is equal to NAV.
Distributions declared as of Jan. 22, 2019. Distributions are at the discretion of the board of directors and are not guaranteed in frequency or amount. There can be no assurance that the stated distribution rate will be achieved and does not represent the total return of CNL Strategic Capital. The annualized distribution rates shown are calculated per share class by annualizing the current weekly cash distributions declared per share class and divided by the public offering price (POP) per share (FA share class is divided by NAV). As of Sept. 30, 2018, approximately 97.5 percent of total distributions declared were sourced from net investment income with the remaining 2.5 percent sourced from offering proceeds. Net investment income includes 17.7 percent expense support as a source for total distributions. Distribution amounts and composition of coverage will vary among share classes and the actual distribution composition will not be known until the audited Form 10K is filed. CNL Strategic Capital is obligated to repay expense support to the managers over several years, which will reduce future income available for distributions; distributions from sources other than operating income may lower overall returns. 
The board of directors is under no obligation to pursue or complete any particular liquidity event during this timeframe or otherwise
Class FA shares was a private placement offering that closed to new subscribers on Feb. 7, 2018.