George “Chip” Stelljes III

George “Chip” Stelljes III

George “Chip” Stelljes III

Independent Trustee

George Stelljes is currently the managing partner of St. John’s Capital, LLC, a vehicle used to make private equity investments.

From 2001 to 2013, Mr. Stelljes held various senior positions with the Gladstone Companies, including serving as the chief investment officer, president and a director of Gladstone Capital Corporation and Gladstone Investment Corporation, both of which are business development companies, of Gladstone Commercial Corporation, a real estate investment trust, and of their registered investment adviser, Gladstone Management Corporation. From 1999 to 2001, Mr. Stelljes was a managing member of Camden Partners, a private equity firm which finances high growth companies in communications, education, healthcare and business services sectors. From 1997 to 1999, Mr. Stelljes was a managing director and partner of Columbia Capital, a venture capital firm focused on investments in communications and information technology. From 1989 to 1997, Mr. Stelljes held various positions, including executive vice president and principal, with the Allied Capital companies. From 2001 through 2012, Mr. Stelljes served as a general partner and investment committee member of Patriot Capital and Patriot Capital II, which are private equity funds.

Mr. Stelljes currently serves on the board of directors of Intrepid Capital Corporation, an asset management firm. Mr. Stelljes is also currently the chairman of the board of directors of the Bluestone Community Development Fund (FKA The 504 Fund), a closed-end investment company that operates as an interval fund. He is also a former board member and regional president of the National Association of Small Business Investment Companies. Mr. Stelljes holds a Masters in Business Administration from the University of Virginia and a Bachelor of Arts in Economics from Vanderbilt University.

An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. This and other important information about the investment company can be found in the Fund’s prospectus. To obtain a prospectus call (855) 386-3504 or click here.

The Fund’s name changed from “The 504 Fund” to “Bluestone Community Development Fund” effective May 1st, 2019.


The Bluestone Community Development Fund is distributed by Foreside Fund Services, LLC which is not affiliated with Bluestone Capital Partners or any affiliate.

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