Palmer Square Capital Management Announces Management Buy-out of Montage Investments’ Ownership Stake
MISSION WOODS, Kan., Oct. 9, 2018 /PRNewswire/ — Palmer Square Capital Management LLC, an asset management firm that provides portfolios of corporate credit, structured credit and alternative credit strategies to a wide range of institutional and high net worth investors, today announced that the principals and senior management of Palmer Square, Chris Long and Angie Long, reached an agreement with Montage Investments to buy the ownership interest currently held by Montage Investments. The transaction will return Palmer Square to being entirely management owned.
Christopher D. Long, President, Founder and Chief Executive Officer of Palmer Square, stated: “We are excited about this next stage in the Palmer Square story and believe heavily in the future promise of our team and credit investment platform. We continue to be very proud of the results that Palmer Square has generated for our clients and believe we are well-positioned to meet our goal of delivering strong risk-adjusted returns and operational and client service excellence.”
Angie K. Long, Chief Investment Officer, added: “We have greatly valued our relationship with Montage Investments, which began back in 2009. They have been a tremendous partner and as such, will always be an important part of the history of our firm.”
Outside of the ownership change, no other changes are anticipated at Palmer Square and the management team remains in place. The proposed transaction is subject to various conditions, including the execution of definitive documents and the satisfaction of customary closing conditions.
About Palmer Square Capital Management
Founded in 2009 by Chris Long and based right outside of Kansas City, MO, Palmer Square manages approximately $7.5 billion in fixed income/credit investments on behalf of a diverse client base inclusive of institutional investors, wealth management firms, and high net worth individuals. The firm offers mutual funds, separately managed accounts, and other pooled investment vehicles (including investments focused specifically on CLO debt, CLO equity, and warehouse financing). As of 10/1/2019, the team has 29 employees including 15 investment professionals.
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SOURCE Palmer Square Capital Management