Palmer Square Launches Alt. Income Fund

May 31 2012 | 8:18am ET

Palmer Square Capital Management has raised $160 million for a second open-ended mutual fund in the alternative investment space.

The Palmer Square SSI Alternative Income Fund is being launched in partnership with Montage Investments— a group of asset managers offering a wide range of strategies—and SSI Investment Management, the latter of which will act as sub-advisor. The fund will take long positions in convertible securities and short positions in the common stock of the issuers of those convertible securities.

“We believe the SSI team has a very successful, 17-year track record of managing this alternative income strategy, which leverages SSI’s deep expertise in the convertible bond space,” said Christopher D. Long, founder and president of Palmer Square Capital Management. “The strategy complements our focus on delivering risk-adjusted returns with low beta and correlation to traditional markets.”

Palmer Square Capital Management, based in Leawood, Kansas, provides investment advisory services and manages portfolios of hedge fund strategies for a diverse set of clients across high-net-worth, registered investment advisory firms, broker-dealers and institutional clients.

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