Palmer Square Emerging Manager, LP has provided USD30 million of capital for a seed investment with Cypress Capital Management, a fundamentally-driven, long/short investment firm based in San Francisco, CA, primarily focused on the global consumer/retail and technology, media and telecommunications sectors.
In addition to securing strategic investment capital, the relationship provides Cypress with access to the distribution channels of Atlantic and Montage.
"Cypress has an excellent track record across all phases of the economic cycle," says Christopher D Long, president of Palmer Square. "Our investment in Cypress represents an exciting strategic move for our Emerging Manager Fund and our limited partners," he continued. "Cypress has all of the qualities we look for when partnering with a hedge-fund manager, including a seasoned investment team, a demonstrated ability to protect capital during times of market stress and investment tail winds that we expect to last well into the next decade."
The agreement to invest in Cypress was done in partnership with Atlantic Asset Management, which brings decades of experience in identifying and partnering with talented emerging managers. The agreement was further enabled by Palmer Square’s affiliation with Montage Asset Management – a group of asset managers offering multiple investment solutions, including mutual funds, closed-end funds, separately managed accounts and alternative investments to financial intermediaries.
Don Trotter, managing director of Atlantic Asset Management, commented, "We are thrilled with our Cypress partnership and look forward to helping them grow their business." Cypress Capital Management is equally optimistic about the new agreement with Palmer Square, Atlantic and Montage.
"The partnership with Palmer Square – and the capital resources they are investing in our efforts – is an exciting event in our firm’s history," says Brenden M Smith, managing partner of Cypress Capital Management, LP. "This agreement augments our firm’s infrastructure while allowing us to increase our focus on generating continued investment performance. By combining our track record with Palmer Square, Montage and Atlantic’s institutional marketing and support, Cypress is in a unique position to grow the business in the years ahead."