Palmer Square Teams With Montage, Atlantic To Seed Hedge Fund Manager Cypress

Feb 28 2011 | 8:04am ET

Palmer Square Capital Management, Atlantic Asset Management and Montage Asset Management have seeded Cypress Capital Management, a San Francisco based hedge fund manager, to the tune of $30 million.

Cypress was founded in 2008 by Brenden Smith, formerly of Goldman Sachs, Partner Fund Management and Lehman Brothers/Neuberger Berman. Smith is joined by his former PFM colleagues David Pouncy and Marc Mezzadri. 

Cypress is primarily focused on the global consumer/retail and technology, media and telecommunications sectors. In addition to securing strategic investment capital, the relationship provides Cypress with access to the distribution channels of Atlantic and Montage.
 
“Cypress has an excellent track record across all phases of the economic cycle,” said Christopher D. Long, president of Palmer Square. “Our investment in Cypress represents an exciting strategic move for our Emerging Manager Fund and our limited partners. Cypress has all of the qualities we look for when partnering with a hedge fund manager, including a seasoned investment team, a demonstrated ability to protect capital during times of market stress and investment tail winds that we expect to last well into the next decade.”
 
Palmer Square provides investment advisory services, proprietary funds, and customized allocations focused specifically on alternative investments to a diverse set of clients including high net worth individuals, registered investor advisor firms and institutions.

Montage is a group of institutional investment managers organized to allow individual managers to retain boutique processes, while Atlantic is an independent asset management firm currently managing over $6 billion in a variety of fixed income, asset allocation and specialized investment strategies, mostly servicing institutional investors. 

 


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