Spouting Rock Asset Management Acquires Majority Stake in Penn Capital
Penn Capital is pleased to announce that as of December 10, 2020, we are entering into a partnership with Spouting Rock Asset Management (“Spouting Rock”) whereby Spouting Rock will become the majority owner of Penn Capital. Spouting Rock, located in suburban Philadelphia, PA, is a .
We believe this partnership enables us to continue providing high quality products and services to our clients as we transition the firm to a new generation of owners. This is extremely positive news and a strong reflection of the confidence we have in our long-standing investment process, our investment strategies, and our people. Importantly, this merger will allow our investment team to remain intact and focus on what they do best – manage investments.
Since our inception in 1987, our firm has specialized in the fundamental, bottom-up research of underfollowed, speculative grade companies. We are incredibly excited about this news and believe Spouting Rock will be a valuable business partner as we grow. Our focus will continue to remain on managing our investment strategies and seeking positive performance for our clients.