Palmer Square Adds High Yield, Muni Specialists

Mar 24 2015 | 10:29am ET

Credit and alternatives investment manager Palmer Square Capital Management has added two executives to lead its high yield and distressed municipal bonds group.

Garey Fuqua will lead the team and serve as managing director and CIO of the company’s high yield and distressed municipal strategies. He joins from Spring Mountain Capital, where he oversaw a similar group. 

Sandra Matthews also joins from Spring Mountain, where she was the head of research for high yield and distressed municipal strategy.

In a press release, Christopher Long, president of Palmer Square, noted, "Given our relative value orientation and focus on opportunistic credit, we are thrilled to announce these expanded capabilities into the high yield and distressed municipal bond space. We believe Garey's and Sandy's experience with municipal credit investing, strong track record, and origination capabilities will add even more depth and expertise to our current and future investment offerings."

According to Palmer Square, the high yield and distressed municipal bond space has historically been inefficient and under-researched, which can create opportunities to generate uncorrelated, risk-adjusted returns.

Missouri-based Palmer Square manages approximately $3.3 billion in assets as part of Montage Investments, a diverse group of institutional investment managers with nearly $25 billion in AUM. 

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