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Medalist Partners acquires majority stake in CLO manager

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Medalist Partners, an alternative asset management firm specialising in structured credit and asset-backed lending, has acquired a majority stake in JMP Credit Advisors (JMP Credit Advisors), a US-based investment manager with expertise in managing collateralised loan obligations (CLOs), from a subsidiary of JMP Group.

The vendor will remain as a minority investor in JMP Credit Advisors and an investor in the CLOs that JMP Credit Advisors manages.

As a result of the transaction, JMP Credit Advisors has been renamed Medalist Partners Corporate Finance, and it will continue to manage three CLOs with approximately USD1.2 billion in assets under management. JMP Credit Advisors’ leadership team, which includes Bryan Hamm, Craig Kitchin and Fred Passenant, will lead the CLO business unit of Medalist Partners, supported by their existing team. There are no changes planned to JMP Credit Advisors’ investment strategy or process.

“We are excited to welcome the JMP Credit Advisors team to Medalist Partners,” says Greg Richter, Medalist CEO and Co-Head of Structured Credit & Asset Finance. “JMP Credit Advisors is a highly regarded CLO manager with a seasoned team of investment professionals, and they have built a tremendous business over the last decade plus. In addition to offering our clients high quality access to the CLO market, we expect the CLO business to further complement our existing platform with increased market access, investment sourcing capabilities, and diversity of our AUM and client base.” 

Brian Herr, Medalist CIO and Co-Head of Structured Credit & Asset Finance, says: “The addition of this CLO business is a natural extension of our existing structured credit and private credit investment platform, and it offers our investors access to an asset class with stable, attractive returns, which has performed well through multiple market cycles.” 

Bryan Hamm, President of JMP Credit Advisors (now, President & CEO of Medalist Partners Corporate Finance), adds: “We believe Medalist’s experienced investment team, robust infrastructure and demonstrated track record of disciplined investment performance make them a great fit for our business and its continued success. We look forward to working with the Medalist team to take advantage of attractive opportunities across the leveraged loan market.”

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