Tuesday, 31 March 2015
Last updated 3 hours ago
May 4 2011 | 9:53am ET
Palmer Square Capital Management has joined forces with Atlantic Asset Management and Montage Investments to seed long/short credit hedge fund manager Millstreet Capital Management to the tune of $25 million.
The deal gives Boston-based Millstreet, which focuses on high-yield credit, particularly out-of-favor U.S. corporates and leveraged loans, access to the distribution channels of Atlantic and Montage.
“Millstreet is a natural fit for Palmer Square’s Emerging Manager Fund,” said Palmer Square President Christopher D. Long. “The senior team at Millstreet has deep experience analyzing companies, a disciplined investment approach based on thorough research, strong risk management and a track record of success at well-regarded institutions.”
Long also said Millstreet would serve as a “great complement” to Cypress Capital Management, the Palmer Square fund’s long/short equity manager which received $30 million in seed capital from the same firms in February of this year.
Atlantic Asset Management and its affiliates manage over $7 billion while Montage Investments—a group of asset managers offering multiple investment solutions—currently manages $8 billion.
Palmer Square Capital Management provides investment advisory services, proprietary funds, and customized allocations focused specifically on alternative investments such as hedge funds and private equity funds. It has been owned by Kansas-based Mariner Holdings since December 2009.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…