<SEC-DOCUMENT>0001580642-18-006031.txt : 20181221
<SEC-HEADER>0001580642-18-006031.hdr.sgml : 20181221
<ACCEPTANCE-DATETIME>20181221124813
ACCESSION NUMBER:		0001580642-18-006031
CONFORMED SUBMISSION TYPE:	N-23C3A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20181218
FILED AS OF DATE:		20181221
DATE AS OF CHANGE:		20181221
EFFECTIVENESS DATE:		20181221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Destra Multi-Alternative Fund
		CENTRAL INDEX KEY:			0001523289
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		N-23C3A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	817-01237
		FILM NUMBER:		181248565

	BUSINESS ADDRESS:	
		STREET 1:		80 ARKAY DRIVE
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
		BUSINESS PHONE:		631-470-2600

	MAIL ADDRESS:	
		STREET 1:		80 ARKAY DRIVE
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Multi-Strategy Growth & Income Fund
		DATE OF NAME CHANGE:	20110614
</SEC-HEADER>
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<TYPE>N-23C3A
<SEQUENCE>1
<FILENAME>destramultialt_n-23c3a.htm
<DESCRIPTION>N-23C3A
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Form N-23c-3</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notification of Repurchase Offer</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Pursuant to Rule 23c-3</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. Investment Company Act File Number: 811-22572</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Date of Notification: December 18, 2018</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">2. Exact name of Investment Company as specified in registration
statement:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Destra Multi-Alternative Fund</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">3. Address of principal executive office: (number, street, city,
state, zip code)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Destra Multi-Alternative Fund</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">c/o Destra Capital Advisors LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">444 West Lake Street, Suite 1700</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Chicago, IL 60606</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">4. Check one of the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<OL START="1" STYLE="margin-top: 0in; list-style-type: upper-alpha">

<LI STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">[X] The notification pertains to a periodic repurchase offer under
paragraph (b) of Rule 23c-3.</LI>

</OL>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<OL START="2" STYLE="margin-top: 0in; list-style-type: upper-alpha">

<LI STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">[ ] The notification pertains to a discretionary repurchase offer
under paragraph (c) of Rule 23c-3.</LI>

</OL>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<OL START="3" STYLE="margin-top: 0in; list-style-type: upper-alpha">

<LI STYLE="margin: 0; font: 12pt Times New Roman, Times, Serif">[ ] The notification pertains to a periodic repurchase offer under
paragraph (b) of Rule 23c-3 and a discretionary repurchase offer under paragraph (c) of Rule 23c-3.</LI>

</OL>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">By: <U>/s/ Jane Hong Shissler</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">Jane Hong Shissler</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">Secretary</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">&nbsp;</P>



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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>DESTRA MULTI-ALTERNATIVE FUND</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>If
you do not wish to sell shares at this time, please disregard this Notice.</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTICE OF QUARTERLY REPURCHASE OFFER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>IF YOU OWN THESE SHARES THROUGH A BROKER,
CONTACT YOUR BROKER&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">December 18, 2018</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt">Dear Destra Multi-Alternative Fund Shareholder,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The purpose of this Notice is to announce
the quarterly repurchase offer for Destra Multi-Alternative Fund (the &quot;Fund&quot;). The Fund will offer to repurchase shares
only during each regularly scheduled quarterly repurchase offer. The purpose of these quarterly repurchase offers is to provide
shareholders with access to their assets and a degree of liquidity.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The repurchase offer period will begin
on <B>December 18, 2018</B> and end on <B>January 18, 2019.</B> If you wish to redeem shares, please contact your financial consultant.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in 10pt 0.5in; text-align: justify"><B>All Redemption Requests must
be submitted and received by Destra Multi-Alternative Fund by 4:00 p.m., Eastern Time, on Friday, January 18, 2019 to be effective.
</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">For details of the offer, please refer
to the attached Repurchase Offer document.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Destra Multi-Alternative Fund</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>DESTRA MULTI-ALTERNATIVE FUND</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>REPURCHASE OFFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Offer.</B> Destra Multi-Alternative Fund (&quot;Fund&quot;) is offering to repurchase, for cash, up to five percent (5%) of its
issued and outstanding shares (the &ldquo;Repurchase Offer Amount&rdquo;) at a price equal to the net asset value (&quot;NAV&quot;)
as of the close of regular business hours on the New York Stock Exchange on the Repurchase Pricing Date (defined below). The purpose
of this offer is to provide a level of liquidity to shareholders since no secondary market exists for these shares. This offer
is not conditioned on the tender of any minimum number of shares. This offer is made subject to the terms and conditions made in
this Repurchase Offer, the Fund's prospectus and statement of additional information, and the related Repurchase Request Form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
Asset Value.</B> The NAV of the Fund on December 13, 2018, by class and per share, was $13.67 for Class A, $13.27 for Class C,
$13.88 for Class I and $13.40 for Class L per share. The NAV at which the Fund will repurchase shares will not be calculated until
the Repurchase Pricing Date. The NAV can fluctuate. Therefore, the NAV on the Repurchase Pricing Date may be higher or lower than
the NAV stated above or the date on which you return your Redemption Request Form. The current NAV may be obtained by calling <B>1-855-601-3841
</B>and asking for the most recent price. The shares of the Fund are not traded on any organized market or securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase
Request Offer Period and Repurchase Request Deadline.</B> This quarter&rsquo;s Repurchase Offer period begins on December 18, 2018.
All Redemption Request Forms must be received in proper form by 4:00 p.m., Eastern Time, on <B>January 18, 2019</B> (the &ldquo;Repurchase
Request Deadline)<B>. </B>The Repurchase Request Deadline will be strictly observed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase
Pricing Date.</B> The NAV used to calculate the repurchase price will be determined on <B>January 18, 2019 </B>(the &ldquo;Repurchase
Pricing Date&rdquo;). This may be higher or lower than the NAV on the date on which you return your Redemption Request Form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
for Shares Repurchased.</B> The Fund will pay repurchase proceeds within seven (7) calendar days from the Repurchase Pricing Date.
The Fund will not charge a repurchase fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withdrawal
Charges.</B>&nbsp;The Fund does not currently charge any contingent deferred sales charges or any special handling or processing
fees for repurchases of shares. Your financial advisor or broker may charge a transaction fee in connection with submitting a repurchase
request. Please check the Fund&rsquo;s Prospectus and consult your financial advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Redemption Fee.</B>&nbsp;No redemption fees will apply if you sell your Shares pursuant to the Fund&rsquo;s quarterly repurchase
program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase
in Number of Shares Repurchased; Pro Rata Purchase.</B> If shareholders tender for repurchase more than five percent (5%) of the
outstanding shares of the Fund, the Fund may, but is not required to, repurchase up to an additional two percent (2%). If the Fund
determines not to repurchase more than the Repurchase Offer Amount, or if more than the Repurchase Offer Amount plus two percent
(2%) of the outstanding shares on the Repurchase Request Deadline, then the Fund will repurchase shares on a pro rata basis based
upon the number of shares tendered by each shareholder. There can be no assurance that the Fund will be able to repurchase all
shares that each shareholder has tendered, even if all the shares in a shareholder's account are tendered. In the event of an oversubscribed
offer, the Fund may not be able to repurchase all the shares that you wish to tender and you may have to wait until the next quarterly
repurchase offer to tender the remaining shares. Subsequent repurchase requests will not be given priority over other shareholder
requests. You will be subject to NAV fluctuation during the period between quarterly redemption offers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withdrawal
or Modification.</B> Tenders of shares may be withdrawn or modified at any time prior to 4:00 p.m., Eastern Time, on <B>January
18, 2019.</B> If your shares are held for you by your broker-dealer, or for your retirement plan by your retirement plan trustee
or otherwise by a nominee, please consult such person if you wish to modify or withdraw a repurchase request. Shares properly withdrawn
shall not thereafter be deemed to be tendered for purposes of the Repurchase Offer. However, withdrawn
shares may be retendered by following the procedures described herein prior to the Repurchase Request Deadline. For further information
regarding modifications or withdrawals of tenders, you may call <B>1-855-601-3841</B> or contact your financial advisor.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suspension
or Postponement of Repurchase Offer.</B> The Fund may suspend or postpone this Repurchase Offer only by a vote of a majority of
the members of the Board, including a majority of the independent Directors, and only in the following limited circumstances:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If the repurchase
of shares would cause the Fund to lose its status as a regulated investment company under Subchapter M of the Internal Revenue
Code of 1986, as amended;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If the repurchase
would cause the shares that are the subject of the offer that are either listed on a national securities exchange or quoted in
an inter-dealer quotation system of a national securities association to be neither listed on any national securities exchange
nor quoted on any inter-dealer quotation system of a national securities association;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For any period
during which the New York Stock Exchange or any other market in which the securities owned by the Fund are principally traded is
closed, other than customary weekend and holiday closings, or during which such trading is restricted;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For any period
during which an emergency exists as a result of which it is not reasonably practicable for the Fund to dispose of securities it
owns or to determine the Fund's NAV; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For any other periods
that the Securities and Exchange Commission permits by order for the protection of shareholders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 22.5pt 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">If the Repurchase Offer is suspended
or postponed, the Fund will provide notice of the suspension or postponement to each shareholder of the Fund. If the Fund renews
the Repurchase Offer, the Fund will send a new notification to each shareholder with details concerning the terms and conditions
of the renewed Repurchase Offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax
Consequences.</B> You should review the tax information in the Fund's prospectus and statement of additional information and consult
your tax adviser regarding any specific consequences, including state and local tax consequences, of participating in the repurchase.
Generally, any tender of shares to the Fund would be treated as a taxable event and any gain or loss would be treated as a capital
gain or loss, either short or long term, depending on the length of time the shares have been held by the shareholder. Federal
tax withholding could apply to the repurchase in certain circumstances, including situations where the tendering shareholder has
not submitted a valid Form&nbsp;W-9&nbsp;(for United States persons including resident alien individuals) or Form&nbsp;W-8&nbsp;(for&nbsp;non-U.S.&nbsp;shareholders)
to the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Documents
in Proper Form.</B> All questions as to validity, form, eligibility (including time and receipt) and acceptance of tenders of shares
will be determined by the Fund in its sole discretion. The determination by the Fund shall be final and binding. The Fund reserves
the absolute right to reject any or all tenders of shares (even if such tenders are determined to be in good and proper form) and
to refuse to accept for payment, purchase, or to pay for any shares if, in the opinion of Fund's counsel, accepting, purchasing
or paying for such shares would be unlawful. The Fund also reserves the absolute right to waive any of the conditions of this offer
or any defect in any tender of shares, whether generally or with respect to any particular shares or shareholders. The Fund's interpretations
of the terms and conditions of this offer shall be final and binding. Unless waived, any defects or irregularities in connection
with tenders of shares must be corrected within such times as the Fund shall, in its absolute discretion, decide. Tenders of shares
will not be deemed to have been made until any defects or irregularities have been corrected or waived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">None of the Fund, the Fund&rsquo;s adviser,
the Fund&rsquo;s transfer agent, the Fund's distributor, or any other person or entity is or will be obligated to give notice of
any defects or irregularities in tenders, nor shall any of them incur any liability for failure to give any such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">None of the Fund, the Fund&rsquo;s adviser,
or the Fund's distributor is or will be obligated to ensure that your financial consultant, or any broker/dealer or any other third
party through which your shares may be held or registered, submits to you this Repurchase Offer or submits your tender of shares
to the Fund on your behalf.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Neither the Fund nor its Board of Directors
makes any recommendation to any shareholder as to whether to tender or refrain from tendering shares. Each shareholder must make
an independent decision as to whether or not to tender shares and, if so, how many shares to tender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">No person has been authorized to make
any recommendation on behalf of the Fund as to whether shareholders should tender shares pursuant to this offer. No person has
been authorized to give any information or to make any representations in connection with this offer other than those contained
herein, contained in the Fund's prospectus or statement of additional information, or contained in the related Repurchase Request
Form. If given or made, such recommendation and such information and representation may not be relied upon as having been authorized
by the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">For additional information about this
offer, contact your financial consultant.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>DESTRA MULTI-ALTERNATIVE FUND</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>If
you do not wish to sell shares at this time, please disregard this Notice.</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTICE OF QUARTERLY REPURCHASE OFFER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>IF YOU OWN THESE SHARES THROUGH A BROKER,
CONTACT YOUR BROKER&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">December 18, 2018</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Dear Destra Multi-Alternative Fund Shareholder,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The purpose of this Notice is to announce the
quarterly repurchase offer for Destra Multi-Alternative Fund (the &quot;Fund&quot;). The Fund will offer to repurchase shares only
during each regularly scheduled quarterly repurchase offer. The purpose of these quarterly repurchase offers is to provide shareholders
with access to their assets and a degree of liquidity. If you own these shares through a broker-dealer or advisor, please contact
your financial consultant.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The repurchase offer period will begin on <B>December
18, 2018 </B>and end on <B>January 18, 2019.</B> If you wish to redeem shares, please contact your financial consultant if you
own these shares through a broker-dealer or advisor. Otherwise, please complete the attached Redemption Request Form.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 63pt 0 0.5in; text-align: justify"><B>All Redemption Request Forms
must be completed in proper form and received by Destra Multi-Alternative Fund by 4:00 p.m., Eastern Time, on Friday, January 18,
2019 to be effective. </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For details of the offer, please refer to the
attached Repurchase Offer document.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Destra Multi-Alternative Fund</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B><I><U>DESTRA MULTI-ALTERNATIVE FUND</U></I></B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">REPURCHASE REQUEST FORM</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>MUST BE RECEIVED BY 4:00 P.M., EASTERN
TIME, January 18, 2019.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Destra Multi-Alternative Fund</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">c/o Gemini Fund Services, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">17605 Wright Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Omaha, NE 68130</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Please accept this tender of shares as designated
below for repurchase at a price equal to their net asset value on the Repurchase Pricing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">I understand that this quarterly repurchase
offer is limited to five percent (5%) of the Fund's outstanding shares and that if the offer is oversubscribed, the Fund may not
purchase the full amount of the shares that I am requesting, in which case the Fund will repurchase shares on a pro rata basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Name(s) of Registered Shareholders</B>:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">_________________________________ Account Number: _______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0">_________________________________ Daytime Telephone Number:
______________________</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Share Class Tendered (check the appropriate box):</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-bottom: 12pt; padding-left: 72.6pt; font: 11pt Calibri, Helvetica, Sans-Serif">[_]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;Class A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-bottom: 12pt; padding-left: 72.6pt">[_]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;Class L</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-bottom: 12pt; padding-left: 72.6pt">[_]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;Class C</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-bottom: 12pt; padding-left: 72.6pt">[_]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;Class I</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Amount of Shares Tendered (check only ONE option and fill in
number or dollar amount as appropriate):</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; text-align: left">_____&nbsp;&nbsp;Full Tender:</TD>
    <TD STYLE="text-align: left">Please tender all shares of the class designated above in my account.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">_____&nbsp;&nbsp;Partial Tender:</TD>
    <TD STYLE="text-align: left">Please tender ___________shares of the class designated above from my account.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">_____&nbsp;&nbsp;Dollar Amount:</TD>
    <TD STYLE="text-align: left">Please tender enough shares of the class designated above to net $____________.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1pt 0 0; text-align: justify"><B>RETIREMENT ACCOUNTS ONLY - Withholding
Notice and Election Form W-4P/OMB No. 1545-0074 Department of Treasury, Internal Revenue Service</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1pt 0 0; text-align: justify">If no withholding election is indicated
below, IRS regulations require that 10% Federal income tax withholding be taken from your distributions. We encourage you to consult
your accountant or tax advisor regarding your IRA distributions. Even if you elect not to have Federal income tax withheld, you
are liable for payment of Federal income tax on the taxable portion of your distribution. You may be subject to tax penalties under
the estimated tax payment rules if your payments of estimated tax and withholdings are not adequate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1pt 0 0">_____Federal Income Tax Withholding is to be withheld
at ____% (If a percentage is not specified, 10% will automatically be withheld)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1pt 0 0">_____ I elect NOT to have Federal Income Tax Withheld</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Payment and Delivery Instructions:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unless alternative instructions are given below,
the check will be issued to the name(s) of the registered shareholders and mailed to the address of record.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">Alternative mailing instructions:
_____________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_____________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Medallion Signature Guarantee may be required
if (i) repurchase offers are greater than or equal to $100,000; (ii) proceeds of the repurchase are to be made payable via check
to someone other than the registered accounts owner; or (iii) proceeds are to be made payable as the account is registered but
mailed to an address other than the address of record on the account. Please contact the Fund at 1-855-601-3841 to determine if
a Medallion Signature Guarantee is necessary for your repurchase.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">Signature: ____________________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date:
_____________________</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;&nbsp;____________________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Signature Guarantee: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ALL</B> signatures <B>MUST</B> be guaranteed by an employee of
a member firm of a regional or national securities exchange or of the Financial Industry Regulatory Authority, Inc., by an employee
of a commercial bank or trust company having an office, branch or agency in the United States or any other &quot;eligible guarantor
institution&quot; as that term is defined in Rule 17 Ad-15(a)(2) of the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Signature Guaranteed By: ___________________________</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>


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