Great Elm Capital Management, Inc.

What Great Elm Capital Management, Inc. does

Great Elm Capital Management, Inc. (operating as Great Elm Group, Inc.) is a publicly-traded alternative asset manager listed on NASDAQ under ticker GEG, headquartered in Palm Beach Gardens, Florida. The firm focuses on building a scalable and diversified portfolio of long-duration and permanent capital vehicles spanning credit, real estate, specialty finance, and other alternative strategies. Its core managed vehicles are Great Elm Capital Corp., a publicly-traded business development company (BDC) focused on corporate credit, and Monomoy Properties REIT, LLC, an industrial-focused real estate investment trust (REIT). The company was previously known as Forest Investments (formerly Great Elm Capital Group, Inc.) and operates with a lean headcount of 13 employees.

The firm generates revenue primarily through asset management fees and performance fees earned on the BDC and REIT vehicles, supplemented by returns on proprietary investments. Distribution is conducted through NASDAQ public markets for the managed entities and through traditional institutional channels targeting qualified and institutional investors. Marketing and investor outreach rely on conventional public-company channels: the corporate website, press releases, SEC filings, email alerts, RSS feeds, and quarterly presentations, rather than traditional product marketing. On July 31, 2025, Great Elm announced a strategic partnership with Kennedy Lewis Investment Management, signaling an intent to broaden origination and strategy coverage beyond the existing two-vehicle footprint. The company holds no disclosed AI/ML capabilities, proprietary technology stack, or app-based distribution channels, and its competitive position rests on its regulated BDC and REIT charters, publicly-traded distribution wrappers, and permanent capital structure rather than on technology differentiation.

Name

Great Elm Capital Management, Inc.

Legal name

Great Elm Capital Group, Inc.

Website

https://greatelmcap.com

Company type

Public

Operating status

Operating

Headcount range

11–50 employees

Short description

Great Elm Group, Inc. (NASDAQ: GEG) is a publicly-traded alternative asset manager that manages two permanent-capital vehicles — Great Elm Capital Corp. (a BDC) and Monomoy Properties REIT — for institutional and qualified public-market investors, generating revenue through asset management and performance fees.

Ownership category

akta.pro rank

Headquarters

HQ city

Palm Beach Gardens

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure

Revenue model

1. Asset Management Fees: Great Elm Group generates revenue through management fees and performance fees from managing its portfolio companies including Great Elm Capital Corp (a publicly-traded business development company) and Monomoy Properties REIT (an industrial-focused real estate investment trust). The company also earns returns on its proprietary investments.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Great Elm Group, Inc. is a publicly-traded alternative asset manager that builds and manages long-duration and permanent capital vehicles across credit, real estate, specialty finance, and other alternative strategies. Its two core managed vehicles are Great Elm Capital Corp., a publicly-traded business development company, and Monomoy Properties REIT, LLC, an industrial-focused real estate investment trust. The firm earns management fees, performance fees, and returns on its proprietary investments in these vehicles.

Product overview

Great Elm Group, Inc. operates as a publicly-traded, alternative asset manager managing a portfolio of long-duration and permanent capital vehicles. The company manages two core products: Great Elm Capital Corp. (a publicly-traded business development company focused on corporate credit and specialty finance) and Monomoy Properties REIT, LLC (an industrial-focused real estate investment trust). Together, these products span corporate credit, real estate, specialty finance, and other alternative investment strategies.

Differentiator

Problem solved

Functional benefit

Products and services

• Great Elm Capital Corp. A publicly-traded business development company (BDC) managed by Great Elm Group, providing investors with exposure to corporate credit, specialty finance, and other alternative investment strategies through a permanent capital vehicle.
• Monomoy Properties REIT, LLC An industrial-focused real estate investment trust (REIT) managed by Great Elm Group, providing investors with exposure to industrial real estate assets through a long-duration capital vehicle.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Kennedy Lewis Investment ManagementcoreStrategic or Co-development Partner · 31 July 2025Great Elm Group announced a strategic partnership with Kennedy Lewis Investment Management on July 31, 2025. This represents a significant strategic alliance in the alternative asset management space, with the two firms collaborating on investment opportunities and strategies.

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Stag Industrial: Publicly-traded industrial-focused REIT. Directly comparable asset class and structure to Monomoy Properties REIT, providing a useful benchmark for industrial REIT performance and valuation.
• Golub Capital BDC: Publicly-traded BDC externally managed by Golub Capital, focused on senior secured loans to middle-market companies. Closely comparable to Great Elm Capital Corp.'s BDC structure and credit strategy.
• FSK Capital Corp. Publicly-traded BDC managed by an alternative asset manager, providing direct lending exposure. Comparable in structure as a publicly-listed BDC within a smaller alternative asset management parent.
• MainStreet Capital Corp. Publicly-traded BDC with external management structure providing alternative credit exposure to lower-middle-market companies. Directly comparable to Great Elm Capital Corp. in product type, public listing, and target investor base.
• Gladstone Investment Corporation: Publicly-traded BDC managed by Gladstone Management Corp., focused on lower-middle-market debt and equity investments. Comparable as a small-cap, publicly-traded externally-managed BDC with similar investor base to Great Elm Capital Corp.

Broad incumbents

• Ares Management Corporation: Large publicly-traded alternative asset manager with significant credit, real estate, and specialty finance strategies, including a publicly-traded BDC (Ares Capital). Highly comparable business model to Great Elm's BDC + REIT structure, but at vastly greater scale.
• Blackstone Inc. The largest publicly-traded alternative asset manager with credit, real estate, and specialty finance strategies, including BREIT and various BDCs/credit funds. Comparable strategy mix but operates at materially larger scale across permanent and long-duration capital vehicles.
• Apollo Global Management: Publicly-traded alternative manager with strong credit and real estate platforms, including Athene (permanent capital) and various credit vehicles. Comparable in operating a BDC-style credit business alongside real estate exposure under permanent capital structures.
• Owl Rock Capital Corp. (Blue Owl Capital): Publicly-traded BDC within Blue Owl Capital's alternative credit platform, providing direct lending exposure. Comparable product/vehicle to Great Elm Capital Corp., with broader parent platform offering scale advantages.

Emerging players

• Kennedy Lewis Investment Management: Credit-focused alternative asset manager that entered a strategic partnership with Great Elm in July 2025. Operates in adjacent credit strategies with significant overlap to Great Elm Capital Corp.'s BDC business, making it both a partner and a comparable emerging credit platform.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat3 records

Key risks4 records

Key highlights4 records

Customer concentration

• LinkedInlinkedin.com/company/great-elm-capital-management-inc.

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Great Elm Capital Management, Inc.