Great Elm Group is an alternative asset management company that builds and operates a diversified portfolio of investment vehicles focused on credit, real estate, specialty finance, and related alternatives. Through its registered investment adviser subsidiaries, the company generates recurring revenue from management fees, incentive fees, property management fees, and administration fees charged on assets under management and investment performance. The company's principal holdings include a business development company that invests in credit, a net-leased industrial real estate REIT focused on warehouse and distribution properties, and a build-to-suit development platform acquiring land and constructing properties for lease to institutional tenants, with the goal of deploying permanent capital across multiple asset classes to generate attractive risk-adjusted returns.