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SOURCE Palmer Square Capital Management
MISSION WOODS, Kan., June 10, 2014 /PRNewswire/ -- Palmer Square Capital Management, an investment management firm that provides portfolios of structured credit, corporate credit and hedge fund strategies such as long/short credit to a wide range of investors, today announced that it has closed on its third Collateralized Loan Obligation ("CLO").
Palmer Square CLO 2014-1, Ltd., which closed June 5, 2014, is a $457 million issuance. The transaction was arranged by Bank of America Merrill Lynch. Similar to the prior two transactions Palmer Square previously announced, this vehicle is designed to invest primarily in institutional senior secured bank loans.
According to Christopher D. Long, president of Palmer Square Capital Management, "We are thrilled to have executed on our third successful CLO offering. Given our team's experience in both structured investments and corporate credit, we believe we have a significant competitive advantage in this area. We plan to continue enhancing our CLO platform while also executing on investment opportunities across the other facets of our platform, most notably, long/short credit and our other alternative and traditional investment strategies."
Palmer Square is a boutique credit and alternative investments manager with approximately $4.0 billion in assets under management. The firm is majority-owned by Montage Investments, which is the asset management arm of Leawood, Kansas-based Mariner Holdings, a $32 billion financial services firm.
The securities issued under the CLO transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Palmer Square Capital Management
Palmer Square Capital Management provides investment advisory services and manages portfolios of structured corporate credit, corporate credit and various hedge fund strategies for a diverse set of clients across institutional, family office, registered investment advisory firms and broker-dealers.
About Mariner Holdings
Mariner Holdings is a rapidly growing and award-winning independent financial services firm focusing on wealth and asset management through its two subsidiaries: Mariner Wealth Advisors and Montage Investments.
About Montage Investments
Montage Investments provides institutional-caliber investments to investors and the financial professionals who serve them. Through a family of independent asset managers, unified by deep market insight and fundamental research, Montage offers alternative investment solutions across the spectrum of asset classes and strategies that include mutual funds, closed-end funds and separate accounts. Collectively, Montage Investments managed $24 billion as of April 30, 2014.
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