Palmer Square Capital Management
Palmer Square Capital Management is a boutique investment manager founded in 2009 that specializes in corporate and structured credit, managing approximately $36.6 billion in fixed income assets for institutional investors, family offices, high net worth individuals, and wealth management intermediaries through private funds, ETFs, mutual funds, and a publicly traded BDC.
- Company typePrivate
- Founded2009
- HeadquartersMission, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Palmer Square Capital Management does
Palmer Square Capital Management is a boutique investment manager founded in 2009 by Christopher D. Long, headquartered in Mission Woods, Kansas (Kansas City metro area), with a regional office in London. The firm specializes in corporate and structured credit, managing approximately $36.6 billion in fixed income/credit investments across more than 10 private fund strategies spanning opportunistic credit, CLO debt, income/short duration, private credit, and structured credit issuance. It serves institutional investors, family offices, high net worth individuals, and wealth management intermediaries (RIAs, bank/trust, broker-dealers) through a multi-vehicle platform that includes private funds, managed accounts, interval funds, mutual funds, ETFs (NYSEARCA:PSQO), and a publicly traded business development company (Palmer Square Capital BDC Inc., NYSE:PSBD).
The firm's core technology platform consists of a proprietary relative value investment framework and four rules-based CLO indices: CLOSE (U.S. CLO senior debt AAA/AA), CLODI (U.S. CLO mezzanine A/BBB/BB), ECLOSE (European CLO senior debt), and ECLODI (European CLO mezzanine A-B). The firm also maintains a proprietary ESG scoring system. Palmer Square has issued over 100 CLOs including 28 in Europe and is one of only nine CLO managers among 128 with zero downgrades. Non-accruals stand at an exceptionally low 9 basis points on a fair value basis, and the firm reports a 95% client retention rate.
Palmer Square's business model is built on recurring investment management fees earned on AUM across multiple vehicle structures. The firm is 100% management-owned with no external institutional investors or PE backing. Revenue is not publicly disclosed. Distribution occurs through direct institutional sales, wealth management intermediaries, and public investment platforms. Recent strategic activity has emphasized European CLO expansion (EUR 403.6M European CLO 2026-2 priced June 2026), new ETF launches (Multi-Asset and CLO Credit ETFs in 2024; first European CLO ETFs planned for 2025), and selective direct lending exposure via BDC participation in the $18 billion Hologic take-private transaction in 2026.
Palmer Square Capital Management firmographics
Firmographics- Name
- Palmer Square Capital Management
- Legal name
- Palmer Square Capital Management LLC
- Website
- https://palmersquarecap.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Palmer Square Capital Management is a boutique investment manager founded in 2009 that specializes in corporate and structured credit, managing approximately $36.6 billion in fixed income assets for institutional investors, family offices, high net worth individuals, and wealth management intermediaries through private funds, ETFs, mutual funds, and a publicly traded BDC.
- Ownership category
- akta.pro rank
Palmer Square Capital Management industry classification
Industry- Product category
- Credit Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)
- SIC
- Asset-Backed Securities (6189), Investment Advice (6282)
- akta.pro primary industry
- Private Credit — Structured Credit (CLOs, ABS, Private Securitizations) (FSAHAJAH)
- akta.pro secondary industries
- Middle-Market Lending (FSANADAI), Mezzanine / Subordinated Debt (FSANADAC), Leveraged Finance & Loan Credit (Loans/Lev Loans/Loan CLOs) (FSAHAGAI)
Keywords
Where Palmer Square Capital Management is headquartered
LocationHeadquarters
- HQ city
- Mission
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Palmer Square Capital Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Investment Management Fees: The firm earns fees from managing assets under management across private funds, managed accounts, ETFs, and mutual funds. Palmer Square manages over $36.6 billion in fixed income/credit investments.
- Advisory Services: Investment advisory services to institutional and high net worth investors through various vehicle structures including private funds, managed accounts, and interval funds.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Palmer Square Capital Management product offering
Product offeringCore offering
Palmer Square Capital Management is a boutique credit-focused asset manager that invests approximately $36.6 billion across corporate and structured credit on behalf of institutional investors, family offices, and high net worth investors. The firm offers private fund strategies (Opportunistic Credit, CLO Debt, Income/Short Duration, Private Credit/Structured Credit Issuance), public vehicles (Mutual Funds, ETFs, and BDC), and proprietary CLO indices (CLOSE, CLODI, ECLOSE, ECLODI) covering U.S. and European CLO debt tranches.
Product overview
Palmer Square Capital Management is a credit-focused asset management firm offering a comprehensive platform of investment products. The firm operates as a multi-product platform comprising: (1) CLO Indices - four rules-based observable pricing and total return indices tracking U.S. and European CLO debt across senior and mezzanine tranches (CLOSE, CLODI, ECLOSE, ECLODI); (2) Public Funds - including Palmer Square Capital BDC Inc. (NYSE: PSBD), a business development company investing in corporate debt of private companies, Mutual Funds, and Exchange Traded Funds; (3) Private Funds & Customized Investment Solutions - spanning opportunistic credit, CLO debt strategies, income/short duration strategies, and private credit/structured credit issuance strategies. The firm manages approximately $36+ billion in fixed income/credit investments for institutional and high net worth investors.
Differentiator
Problem solved
Functional benefit
Brands
- Palmer Square Funds: Mutual funds - flexible, actively-managed funds that invest across corporate credit and structured credit.
- Palmer Square Capital BDC Inc.
- Palmer Square ETFs
- Guilford Capital
Products and services
- Palmer Square CLO Senior Debt Index (CLOSE) Rules-based observable pricing and total return index for CLO debt for sale in the United States, rated at time of issuance as AAA or AA (or equivalent), covering the senior tranches of U.S. CLOs.
- Palmer Square CLO Debt Index (CLODI) Rules-based observable pricing and total return index for CLO debt for sale in the United States, rated at time of issuance as A, BBB, or BB (or equivalent), covering the mezzanine tranches of U.S. CLOs.
- Palmer Square EUR CLO Senior Debt Index (ECLOSE) Rules-based observable pricing and total return index for CLO debt for sale in Europe, rated at time of issuance as AAA or AA (or equivalent), covering the senior tranches of European CLOs.
- Palmer Square EUR CLO Debt Index (ECLODI) Rules-based observable pricing and total return index for CLO debt for sale in Europe, originally rated A, BBB, BB, B or equivalent, covering European CLO debt tranches.
- Palmer Square Capital BDC Inc. Financial services company that primarily lends to and invests in corporate debt securities of privately held companies, including small to large private U.S. companies; listed on NYSE as PSBD.
- Palmer Square Exchange Traded Funds (ETFs) Active and passively managed exchange traded solutions across corporate credit and structured credit, including the Palmer Square Credit Opportunities ETF (PSQO).
- Palmer Square Mutual Funds Flexible, actively-managed mutual funds that invest across corporate credit and structured credit for individual and wealth channel investors.
- Palmer Square Opportunistic Credit Strategy Strategy that seeks to leverage the investment team's best ideas by employing flexible mandates to exploit relative value opportunities across corporate credit and structured credit.
- Palmer Square CLO Debt Strategy Strategy that seeks to leverage Palmer Square's deep expertise within structured credit to exploit opportunities in CLO debt.
- Palmer Square Senior CLO Debt Strategy Strategy that seeks to leverage Palmer Square's deep expertise within structured credit to exploit opportunities in senior CLO debt.
- Palmer Square Income Plus Strategy Strategy that seeks to provide diversified access to an expanded set of credit opportunities while generating income, some potential for total return, and minimizing interest rate duration.
- Palmer Square Ultra-Short Duration Investment Grade Strategy Strategy that seeks to provide diversified access to multi-asset credit with 100% investment grade focus, generating income while minimizing interest rate duration.
- Palmer Square Floating Rate Strategy Strategy focused on income generation through broadly syndicated bank loans.
- Palmer Square Senior Loan Strategy Income-focused strategy investing in bank loans.
- Palmer Square Private Credit Strategy High income and total return strategy focused on private credit opportunities.
- Static CLO Equity Strategy Total return strategy focused on static CLO equity with serial issuance and shorter life.
- Structured Credit Issuance Strategy Total return strategy focused on opportunistic structured credit issuance with long volatility exposure.
- Guilford Capital Credit Strategy Long term capital appreciation strategy focusing on CLO equity investments.
Quantifiable outcome
- Zero downgrades among 100+ CLOs issued
- +2 more outcomes
Companies that use Palmer Square Capital Management
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles4 records
Palmer Square Capital Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Palmer Square Capital Management partnerships and signals
Strategic signalScale indicators9 records
Recent moves7 records
Expansion highlights6 records
Palmer Square Capital Management competitors and assessment
Company assessmentBroad incumbents
- Blackstone Credit: Largest credit-focused franchise within Blackstone, managing ~$200B+ across private credit, CLOs, and structured products. Directly comparable to Palmer Square in CLO management and structured credit strategies, but with materially greater scale and a broader multi-strategy platform.
- Apollo Credit: Apollo Global Management's credit segment is a leading CLO issuer, structured credit investor, and direct lender. Overlaps directly with Palmer Square's CLO debt, CLO equity, and private credit strategies, with a much larger AUM base and balance-sheet capability.
- Oaktree Capital Management: Specialist credit manager (acquired by Brookfield) with deep expertise in leveraged finance, structured credit, and CLOs. Highly comparable to Palmer Square's higher-quality bias credit investing approach, with a similar boutique specialist identity at greater scale.
- Carlyle Credit: Credit segment of The Carlyle Group, focused on private credit, CLOs, and structured products. Comparable product overlap with Palmer Square, with the additional advantage of being part of a larger alternative asset manager.
- KKR Credit: Credit segment of KKR managing leveraged loans, private credit, and structured credit strategies globally. Overlaps with Palmer Square's CLO, leveraged loan, and private credit strategies, with significantly greater scale and origination capability.
Direct peers
- GoldenTree Asset Management: Boutique credit-focused asset manager specializing in leveraged finance, structured credit (including CLOs), and distressed. Direct competitor for institutional mandates in the same product categories Palmer Square pursues.
- Muzinich & Co: Boutique credit specialist managing corporate credit, leveraged loans, CLOs, and structured credit strategies for institutional clients. Closely comparable to Palmer Square in mandate scope, boutique positioning, and target client base.
- CIFC Asset Management: Specialist CLO manager focused exclusively on U.S. and European CLOs. Closely comparable to Palmer Square's CLO debt and CLO equity franchises, and a frequent head-to-head competitor for institutional CLO allocations.
- Marathon Asset Management: Boutique credit-focused asset manager offering corporate credit, structured credit, and CLO strategies to institutional clients. Highly comparable to Palmer Square's product set and institutional go-to-market motion.
Emerging players
- Pretium Partners: Credit and structured finance investment manager operating across mortgage credit, corporate credit, and structured products. Comparable boutique posture and overlap in structured credit, though with greater emphasis on housing-related credit.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Palmer Square Capital Management social profiles
Digital presencePalmer Square Capital Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Palmer Square Capital Management leadership team
Management profileNumber of profiles
Profiles7 records
Palmer Square Capital Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Palmer Square Capital Management M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Palmer Square Capital Management
What does Palmer Square Capital Management do?
Palmer Square Capital Management is a boutique credit-focused asset manager that invests approximately $36.6 billion across corporate and structured credit on behalf of institutional investors, family offices, and high net worth investors. The firm offers private fund strategies (Opportunistic Credit, CLO Debt, Income/Short Duration, Private Credit/Structured Credit Issuance), public vehicles (Mutual Funds, ETFs, and BDC), and proprietary CLO indices (CLOSE, CLODI, ECLOSE, ECLODI) covering U.S. and European CLO debt tranches.
Is Palmer Square Capital Management a public or private company?
Palmer Square Capital Management is a private company. It is classified as management employee owned and is currently operating.
When was Palmer Square Capital Management founded?
Palmer Square Capital Management was founded in 2009. It employs 51 to 100 people.
Where is Palmer Square Capital Management based?
Palmer Square Capital Management is headquartered in Mission, United States, in the North America region.
How does Palmer Square Capital Management make money?
Two revenue lines are on record. Investment Management Fees are the primary driver. The others are advisory Services.
Who are Palmer Square Capital Management's main competitors?
Broad incumbents on record are Blackstone Credit, Apollo Credit, Oaktree Capital Management, Carlyle Credit and KKR Credit. Direct peers are GoldenTree Asset Management, Muzinich & Co, CIFC Asset Management and Marathon Asset Management. Pretium Partners is listed as an emerging player.
Does Palmer Square Capital Management have an API?
No public API is recorded for Palmer Square Capital Management.
What industry is Palmer Square Capital Management in?
Palmer Square Capital Management's product category is Credit Asset Management. Its primary akta.pro industry code is FSAHAJAH, Private Credit — Structured Credit (CLOs, ABS, Private Securitizations), with a secondary code of FSANADAI, Middle-Market Lending. Its NAICS code is 523940 and its SIC code is 6189.