Yieldstreet Alternative Income Fund Seeks to Deregister After Merger Costing $4.47 Million
Shareholders received their pro rata stake in the surviving fund on August 24, and the departing fund reports no remaining assets, liabilities or litigation.
September 22, 2026
Yieldstreet Alternative Income Fund Inc. has asked the SEC to strike it from the register of investment companies, closing the book on a Maryland closed-end fund whose portfolio now sits inside the Opportunistic Credit Interval Fund. The application, made under Section 8(f) of the Investment Company Act, caps a merger that the fund’s board approved on March 18 and shareholders ratified on July 31.
The fund distributed its assets to shareholders on August 24, pro rata and on the basis of net assets, in exchange for interests in the surviving fund. No shareholder is still waiting on a distribution. As of the application, the fund holds no assets, owes no debt or other liabilities, has never issued senior securities, is not party to any litigation or administrative proceeding, and is conducting no business beyond winding up its affairs.
The surviving fund is managed by Mount Logan Capital, which announced completion of the asset acquisition in late August and put the transferred portfolio at roughly $130 million. SQX Alts covered the tax opinions supporting the deal in Counsel Backs Tax-Free Treatment for Yieldstreet Fund Holders in Mount Logan Deal.
What the merger cost
The deregistration application also puts a price on the transaction. Expenses across both funds and their advisers totaled $4,471,258, of which $3,687,127 was legal work.
- Acquiring fund: $2,082,245, covering $1,827,745 in legal fees, $50,000 in accounting and $204,500 in filing fees and related costs. Its adviser paid a further $699,798, all of it legal.
- Yieldstreet Alternative Income Fund: $1,300,978, comprising $859,584 in legal fees, $110,000 for a special committee and $331,394 for a fairness opinion. The special committee and fairness opinion are the only line items that appear solely on the acquired fund’s side of the ledger.
- Willow Asset Management LLC, the acquired fund’s adviser: $388,237, split between $300,000 in legal expenses and $88,237 in filing fees.
The fund reports no unamortized expenses.
Adviser lineage and loose ends
Willow Asset Management is the former Yieldstreet Management, LLC, and the application confirms the name change on the record. Prytania Investment Advisors LLP of London served as sub-adviser during the fund’s final five years, and the fund had no principal underwriter over that period. Willow will remain responsible for maintaining the fund’s books under the Investment Company Act’s recordkeeping rules after deregistration takes effect.
The merger agreement was filed with the SEC on June 30 as part of the surviving fund’s registration statement. Ted Yarbrough signed the application as president of the departing fund.
