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Spouting Rock takes majority stake in $2.25bn boutique Penn Capital Management


Spouting Rock takes majority stake in $2.25bn boutique Penn Capital Management
Monday, December 14, 2020
Laxman Pai, Opalesque Asia:
Spouting Rock Asset Management (SRAM), a multi-boutique manager platform providing alternative, traditional and thematic investment solutions and service, has taken a majority stake in $2.25bn boutique Penn Capital Management Company (PCMC).
PCMC, a fixed-income and equities manager, is an asset manager more than two times its size of SRAM, which spawned out of a family office two years ago.
The deal, which is partially funded by private investors and is expected to close in the first quarter of 2021, is an example of how the Bryn Mawr, Pennsylvania-based Spouting Rock plans to grow into a back office and distribution platform for established boutique asset managers, according to chairman John Coyne. ....

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Spouting Rock quadruples AUM with Penn Capital acquisition


Spouting Rock quadruples AUM with Penn Capital acquisition
The asset management firm is looking to roll up boutique asset managers onto a single platform
December 11, 2020
2
MINS
Spouting Rock Asset Management, which spawned out of a family office two years ago, announced the acquisition of Penn Capital Management Co., an asset manager more than two times its size.
Spouting Rock, which has $691 million under management, will add $2.7 billion under administration, including $2.3 billion under management, with the acquisition of Philadelphia-based Penn Capital.
The deal, which is partially funded by private investors and is expected to close in the first quarter of 2021, is an example of how the Bryn Mawr, Pennsylvania-based Spouting Rock plans to grow into a back office and distribution platform for established boutique asset managers, according to chairman John Coyne. ....

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