Destra Multi-Alternative Fund Seeks Re-election of Two Class I Trustees

TL;DR

**DMA's annual meeting is a rubber stamp for re-electing two independent trustees, signaling stable but unexciting governance continuity.**

AI Summary

Destra Multi-Alternative Fund (DMA) is holding its Annual Meeting of Stockholders on December 18, 2025, to elect two Class I Trustees. The Board of Trustees unanimously recommends re-electing John S. Emrich and Michael S. Erickson, both of whom are Independent Trustees and will continue to serve three-year terms expiring in 2028. The Fund's Board, which consists of five Independent Trustees, is responsible for overall management, including supervision of the investment management agreement with Destra Capital Advisors LLC. Key officers include Robert Watson as President, Derek Mullins as Chief Financial Officer and Treasurer, and Randi Roessler as Chief Compliance Officer since August 16, 2023. The Fund's Audit Committee, chaired by Jeffrey S. Murphy, met four times during the fiscal year ended March 31, 2025, overseeing financial reporting and internal controls. Stockholders of record as of November 14, 2025, are eligible to vote, with a plurality of votes cast required for trustee election.

Why It Matters

This DEF 14A filing outlines routine governance for Destra Multi-Alternative Fund, focusing on the re-election of two Class I Independent Trustees, John S. Emrich and Michael S. Erickson. For investors, maintaining a stable and experienced independent board is crucial for oversight of the Fund's investment strategies and financial integrity, especially given the multi-alternative nature of DMA's investments. The unanimous recommendation by the Board signals continuity in governance, which can be a positive for market confidence. In a competitive landscape, strong independent oversight helps ensure the Fund operates in the best interest of its stockholders, potentially impacting long-term performance and investor trust.

Risk Assessment

Risk Level: low — The risk level is low as this DEF 14A filing primarily concerns the routine re-election of two Class I Trustees, John S. Emrich and Michael S. Erickson, for a three-year term. There are no contentious proposals or significant changes to the Fund's structure or management, with the Board unanimously recommending the nominees. The filing indicates stable governance with five Independent Trustees overseeing the Fund.

Analyst Insight

Investors should vote FOR the re-election of John S. Emrich and Michael S. Erickson as recommended by the Board, as this maintains continuity and independent oversight. Review the Fund's recent annual and semi-annual reports available at destracapital.com to assess performance under the current governance structure.

Key Numbers

• 2 — Class I Trustees to be elected (John S. Emrich and Michael S. Erickson are nominated for re-election.)
• 3 — Year term for elected Trustees (Terms for Class I Trustees expire at the annual meeting in 2028.)
• 5 — Total Independent Trustees on the Board (The Board consists of five Independent Trustees.)
• 4 — Audit Committee meetings (The Audit Committee met four times during the fiscal year ended March 31, 2025.)
• 1 — Vote per common share (Stockholders of record on November 14, 2025, are entitled to one vote per share.)
• 1967 — Birth Year of John S. Emrich (Provides age context for a Class I Trustee nominee.)
• 1952 — Birth Year of Michael S. Erickson (Provides age context for a Class I Trustee nominee.)
• 2025-11-14 — Record Date (Stockholders of record on this date are eligible to vote.)
• 2025-12-18 — Annual Meeting Date (Date when stockholders will vote on trustee elections.)
• 888-886-4425 — EQ Fund Solutions Phone Number (Contact for questions regarding the proposal or voting process.)

Key Players & Entities

• Destra Multi-Alternative Fund (company) — Registrant
• Robert Watson (person) — President of the Fund
• John S. Emrich (person) — Class I Trustee nominee, Independent Trustee
• Michael S. Erickson (person) — Class I Trustee nominee, Independent Trustee
• PINE Advisor Solutions (company) — Location of Annual Meeting
• Destra Capital Advisors LLC (company) — Investment Adviser
• Nicholas Dalmaso (person) — Chairman of the Board
• Jeffrey S. Murphy (person) — Chair of the Audit Committee
• EQ Fund Solutions (company) — Contact for investor questions
• Randi Roessler (person) — Chief Compliance Officer since August 16, 2023

FAQ

Industry Context

The Destra Multi-Alternative Fund operates within the alternative investment sector, which typically offers strategies beyond traditional stocks and bonds. This sector is characterized by a diverse range of investment vehicles, including hedge funds, private equity, and real estate, often appealing to investors seeking diversification and potentially higher returns. The industry is subject to evolving regulatory scrutiny and requires robust risk management due to the complexity of underlying assets.

Regulatory Implications

As a registered investment fund, Destra Multi-Alternative Fund is subject to SEC regulations governing proxy solicitations and corporate governance. The election of Trustees is a key governance process that ensures oversight of the fund's management and adherence to fiduciary duties. Compliance with disclosure requirements, such as this DEF 14A filing, is critical for maintaining investor confidence and avoiding regulatory penalties.

What Investors Should Do

1. Review the proxy statement thoroughly.
2. Vote your shares by the deadline.
3. Contact EQ Fund Solutions with any questions.

Key Dates

• 2025-11-14: Record Date — Establishes the list of stockholders eligible to vote at the Annual Meeting.
• 2025-11-19: Mailing of Proxy Statement — Informs stockholders of the upcoming meeting and proposals, enabling them to review materials before voting.
• 2025-12-18: Annual Meeting of Stockholders — The date for stockholders to vote on the election of Class I Trustees and other business.

Glossary

DEF 14A

A filing with the U.S. Securities and Exchange Commission (SEC) that provides detailed information about a company's annual meeting and the matters to be voted on by shareholders. (This document is the proxy statement for Destra Multi-Alternative Fund's annual meeting.)

Class I Trustees

A category of trustees on the Fund's Board of Trustees, with their terms expiring at specific intervals. (Two Class I Trustees are up for election at the Annual Meeting.)

Independent Trustees

Trustees who are not considered 'interested persons' of the Fund, meaning they do not have certain business or financial relationships with the Fund or its investment advisor. (The nominees for election, John S. Emrich and Michael S. Erickson, are Independent Trustees.)

Plurality of votes cast

A voting standard where the candidate(s) receiving the most votes are elected, even if they do not receive a majority of the total votes cast. (This is the voting threshold required to elect the Class I Trustees.)

Record Date

A specific date set by the company to determine which shareholders are eligible to receive notice of and vote at a shareholder meeting. (Stockholders of record on November 14, 2025, are eligible to vote.)

Proxy Statement

A document provided to shareholders before a meeting that describes the matters to be voted on, including director nominations, and provides information to help shareholders make informed decisions. (This document contains the information shareholders need to vote on the election of Trustees.)

Year-Over-Year Comparison

This filing is a proxy statement for an annual meeting focused on the election of Trustees. As such, it does not contain comparative financial performance metrics like revenue growth or net income from a prior fiscal year. The primary focus is on the governance aspect of electing board members, with no indication of changes in the fund's operational or financial structure compared to previous filings of this nature.

Key Financial Figures

• $0.001 — ommon shares with a par value of $0.001 per share. Throughout this Proxy Statem

Filing Documents

• destramulti-alt_def14a.htm (DEF 14A) — 157KB
• proxy_001.jpg (GRAPHIC) — 367KB
• proxy_002.jpg (GRAPHIC) — 179KB
• 0001829126-25-009259.txt ( ) — 910KB

From the Filing

DEF 14A 1 destramulti-alt_def14a.htm DEF 14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement. Confidential, for use of the Commission Only (as permitted by Rule 14a-6(e)(2)). Definitive Proxy Statement. Definitive Additional Materials. Soliciting Material Pursuant to § 240.14a-12. DESTRA MULTI-ALTERNATIVE FUND (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: Fee paid previously with preliminary materials: Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: DESTRA MULTI-ALTERNATIVE FUND 443 N. Willson Ave. Bozeman, MT 59715 NOTICE OF Annual MEETING OF stockholders To be held December 18, 2025 Destra Multi-Alternative Fund (the “Fund”), a Delaware statutory trust, will host an Annual Meeting of Stockholders on December 18, 2025 at the offices of PINE Advisor Solutions, 501 S Cherry St., Suite 610, Denver, CO 80246, at 9:00 a.m. (Mountain Time) (the “Annual Meeting” or “Meeting”). The Annual Meeting is being held so that stockholders can consider the following proposals: 1. To elect two (2) Class I Trustees of the Fund. 2. To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. THE BOARD of TRUSTEES of THE fund UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE FOR THE ELECTION OF THE NOMINEES. Stockholders of record of the Fund at the close of business on November 14, 2025 are entitled to notice of and to vote at the Annual Meeting and any adjournment(s) thereof. The Notice of the Annual Meeting of Stockholders, proxy statement and proxy card is being mailed on or about November 19, 2025 to such stockholders of record. By Order of the Board of Trustees, /s/ Robert Watson Robert Watson President of the Fund November 17, 2025 YOUR VOTE IS IMPORTANT You can vote easily by mail. Just follow the simple instructions that appear on your proxy card. Please help the Fund reduce the need to conduct telephone solicitation and/or follow-up mailings by voting today. 1 DESTRA MULTI-ALTERNATIVE FUND November 17, 2025 To the Stockholders of the Fund, Thank you for your investment in the Fund. You are invited to attend an annual meeting of stockholders (the “Annual Meeting” or “Meeting”) of Destra Multi-Alternative Fund (“DMA” or the “Fund”). The Meeting will occur on December 18, 2025 at the offices of PINE Advisor Solutions, 501 S Cherry St., Suite 610, Denver, CO 80246. The Annual Meeting will be held at 9:00 a.m. (Mountain Time). Formal notice of the Meeting and the Proxy Statement for the Meeting follows this letter. At the Meeting, you are being asked to vote on the following matters and to transact such other business, if any, as may properly come before the meeting: 1. The election of two (2) Class I Trustees to the Board of Trustees (the “Board”) of the Fund. The Board of the Fund unanimously recommends that stockholders vote for the election of the nominees. I encourage you to exercise your rights in governing the Fund by voting on the proposal. Your vote is important. Whether or not you expect to attend the Meeting, it is important that your shares be represented. Your immediate response will help reduce the need for the Fund to conduct additional proxy solicitations. Please review the proxy statement and then vote by mail as soon as possible. If you vote by mail, please sign and return the proxy card included in this package. If you have any questions regarding the proposal or the voting process, please call EQ Fund Solutions at (888) 886-4425. Sincerely, /s/ Robert Watson Robert Watson President of the Fund 2 SUMMARY OF IM

View Full Filing

View this DEF 14A filing on SEC EDGAR