KNN Public Finance

What KNN Public Finance does

KNN Public Finance, LLC is an Independent Registered Municipal Advisor providing comprehensive advisory services to public agencies in California and other western states. The firm traces its roots to 1982, when the predecessor entity Kelling & Co. Incorporated was established; after operating as a division of Zions First National Bank and Zions Public Finance, Inc., it was purchased by a group of employees in February 2016 and reconstituted as a 100% employee-owned California LLC. Today the firm employs 18 professionals across three California offices (Berkeley/Bay Area, Newport Beach, Los Angeles) and serves cities, counties, K-12 school districts, higher education agencies, special districts, and state agencies.

The firm's service offering is organized into four categories: Strategic Planning and Debt Management (financing feasibility, debt affordability, long-term financing plan development, staff and board training); Debt Issuance (debt structuring, rating and credit management, document review, pricing oversight and investor outreach); Ongoing Advisory Support (policies and best practices, refunding opportunity monitoring, underwriter proposal evaluation, annual tax rate setting); and Continuing Disclosure (annual report preparation, event notice monitoring and filings, voluntary disclosures). Its core technology capability centers on in-house quantitative expertise in bond program modeling, municipal market analysis, and pricing execution — differentiated as domain specialization rather than proprietary software. The firm emphasizes its independence, noting it does not underwrite securities or serve in roles that could conflict with its fiduciary duty to clients.

KNN Public Finance generates revenue through transaction-based municipal advisory fees, with compensation contingent on successful closing and/or based on transaction size as disclosed in regulatory filings. In Full Year 2024, the firm advised on $11.47 billion in par value across 77 transactions spanning state agencies ($5.16B), higher education ($2.35B), K-12 education ($2.00B), cities/counties ($1.49B), and special districts ($0.50B). Per LSEG Data & Analytics, KNN ranked #1 in California Education, #3 California Financial Advisor, and #4 in US Municipals Education for 2024. Client acquisition is driven primarily through direct enterprise field sales, industry conference presentations (CSMFO, CSACA), the corporate website, and LinkedIn presence.

Name

KNN Public Finance

Legal name

KNN Public Finance, LLC

Website

https://knninc.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

KNN Public Finance is an Independent Registered Municipal Advisor providing transaction-based advisory services on debt issuance, strategic planning, and continuing disclosure to cities, counties, school districts, higher education agencies, special districts, and state agencies primarily in California and other western states.

Ownership category

akta.pro rank

Product category

Municipal Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Debt Advisory & Financing Advisory (FSAEAGAD)

Keywords

• Municipal advisory services
• Public finance consulting
• Debt issuance advisory
• Municipal bond advisory
• Government financial advisory

Headquarters

HQ city

Oakland

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Municipal Advisory Fees: KNN Public Finance receives compensation from Issuers or Obligated Persons for municipal advisory services rendered. Compensation structures include contingent fees tied to successful transaction closing and/or fees based on transaction size. This transaction-based compensation model is standard for municipal advisors and may present potential conflicts of interest which the firm addresses through regulatory disclosures.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

KNN Public Finance, LLC provides comprehensive independent municipal advisory services to cities, counties, school districts, higher education agencies, special districts, and state agencies in California and other western states. The firm is an SEC- and MSRB-registered Municipal Advisor that does not underwrite securities, offering strategic planning and debt management, debt issuance, ongoing advisory support, and continuing disclosure services across the municipal bond lifecycle. Its work is delivered by senior advisors supported by in-house quantitative expertise in bond program modeling, municipal market analysis, and pricing execution.

Product overview

KNN Public Finance is a municipal advisory firm that provides comprehensive municipal advisory services rather than a technology product. Their service offerings are organized into four main categories: Strategic Planning and Debt Management (including financing feasibility analysis, debt affordability analysis, long-term financing plan development, and staff and board training); Debt Issuance (including debt structuring, rating and credit management, document review, and pricing oversight and investor outreach); Ongoing Advisory Support (including development of policies and best practices, monitoring of refunding opportunities, evaluation of underwriter proposals, and annual tax rate setting); and Continuing Disclosure (including preparation and filing of annual reports, notice of event monitoring and filings, and voluntary disclosures). The company operates as an Independent Registered Municipal Advisor serving cities, counties, school districts, higher education agencies, special districts, and state agencies in California and other western states.

Differentiator

Problem solved

Functional benefit

Products and services

• Strategic Planning and Debt Management Municipal advisory service covering financing feasibility analysis, debt affordability analysis, long-term financing plan development, and staff and board training for cities, counties, state agencies, school districts, higher education agencies, and special districts.
• Debt Issuance Municipal advisory service covering debt structuring, rating and credit management, document review, and pricing oversight and investor outreach for municipal bond issuances by public agencies in California and western states.
• Ongoing Advisory Support Continuing municipal advisory service covering development of policies and best practices, monitoring of refunding opportunities, evaluation of underwriter proposals, and annual tax rate setting for public agency clients.
• Continuing Disclosure Post-issuance municipal advisory service covering preparation and filing of annual reports, notice of event monitoring and filings, and voluntary disclosures for public agency issuers under SEC and MSRB continuing disclosure obligations.

Quantifiable outcome

• $11.47 billion in total par value issued across 77 transactions in 2024
• +3 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PFM Financial Advisors LLC: Largest independent municipal advisory firm in the US and the most direct competitor to KNN, providing financial advisory services to state and local governments, higher education, K-12, and special districts across the country. Both firms are SEC/MSRB registered, fiduciary-only advisors without underwriting conflicts.
• Hilltop Securities Inc. Major municipal advisory practice serving cities, counties, school districts, and higher education clients. Comparable service model across strategic planning, debt issuance, and continuing disclosure, with deeper geographic reach but more conflicts given affiliation with broader capital markets business.
• Acacia Financial Group: Independent municipal advisory firm specializing in K-12, higher education, state and local government. Closely comparable pure-advisory model targeting the same issuer segments where KNN has top rankings.
• Ponder & Co. Independent municipal advisory firm providing financial advisory services to public agencies, including a focus on California and western state clients. Direct competitor for K-12 and higher education mandates in overlapping geographies.
• Backstrom McCarley Berry & Co., LLC: Municipal advisory firm serving public agencies including K-12 districts, cities, and special districts in California and the western US. Closely comparable independent advisor competing in KNN's core educational and local government verticals.
• Capitol Public Finance: California-focused municipal advisory firm serving cities, counties, school districts, and special districts. Direct competitor in the same California regional market with similar issuer mix and service offerings.
• Urban Futures, Inc. Independent municipal advisory firm serving California public agencies with financial advisory services for debt issuance. Direct peer competing for California-based city, county, and special district mandates.

Broad incumbents

• Stifel Public Finance (Stifel, Nicolaus & Company): Public finance division of larger broker-dealer Stifel Financial, providing municipal advisory alongside underwriting and capital markets services. Competitor for many of the same mandates though with broader full-service capabilities.
• RBC Capital Markets Public Finance: Public finance advisory practice of large global bank RBC Capital Markets. Provides municipal advisory alongside substantial underwriting, swap, and capital markets capabilities — competing for larger and more complex mandates KNN may cede.

Regional players

• Western Alliance Public Finance: Public finance division of Western Alliance Bancorporation, serving municipal and nonprofit clients across western states including California. Comparable geographic footprint though operating within a larger bank platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/knn-public-finance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KNN Public Finance