Palmer Square Capital Management was founded in 2009 by Chris Long, the current chairman and CEO, and Angie Long, the chief investment officer. The couple previously worked at JPMorgan Chase before establishing the firm. Over the last 15 years, the company has expanded from a startup into a global CLO issuer with offices in London.
The firm manages approximately $37 billion in assets, with roughly $27 billion allocated to its CLO platform. In addition to CLOs, the company operates strategies for private credit, income, short-duration products, and opportunistic credit.
The company also manages Palmer Square Capital BDC Inc., a publicly traded business development company that provides direct lending to middle-market companies. This move comes amid a broader trend of consolidation within the credit asset management industry.
The US CLO market has grown fourfold to exceed $1.3 trillion over the past 15 years, shifting from a niche structured finance tool to a mainstream institutional allocation.
