Public Finance Partners
Public Finance Partners is a five-person boutique verification agent firm founded in 2019 that provides independent cash flow, yield, defeasance, and arbitrage rebate verification services to municipal bond advisors, underwriters, issuers, and commercial mortgage borrowers across the United States.
- Company typePrivate
- Founded2019
- HeadquartersTucson, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Public Finance Partners does
Public Finance Partners LLC is a privately held, boutique verification agent firm founded in 2019 and headquartered in Tucson, Arizona, with operational concentration in Minneapolis, Minnesota. The company provides independent third-party verification services to participants in the U.S. municipal finance and commercial real estate finance markets, including bond financial advisors, underwriters, state and local government issuers, and commercial mortgage borrowers. Its service portfolio spans cash flow and yield verification for bond refundings, commercial mortgage loan defeasance verification, arbitrage rebate compliance, post-issuance bond compliance, escrow cash flow verification, bond yield verification, and Form 990-Schedule K assistance.
The firm is co-led by Kevin Stombaugh and Stephanie Seroogy, both alumni of Grant Thornton's public finance practice, and operates with a five-person team carrying 40+ combined years of experience as a Verification Agent to the public finance industry. Engagements are delivered through proprietary software that supports customized transaction models for defeasance and refunding calculations, with the company emphasizing accuracy and configurability rather than scale or automation. Pricing is quote-based and determined by transaction scope, with services distributed primarily through direct client engagement rather than formal marketing or channel programs.
Revenue mechanics are professional services in nature: each engagement is a bespoke verification report tied to a specific bond refunding, defeasance, or compliance event, and demand is therefore cyclical, driven by interest rate movements and bond maturity schedules. The firm is independently owned with no disclosed institutional investors, parent company, or funding rounds, and its strategic posture is consistent with a founder-led specialist consultancy rather than a scaling technology platform.
Public Finance Partners firmographics
Firmographics- Name
- Public Finance Partners
- Legal name
- Public Finance Partners LLC
- Website
- https://publicfinancepartners.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Public Finance Partners is a five-person boutique verification agent firm founded in 2019 that provides independent cash flow, yield, defeasance, and arbitrage rebate verification services to municipal bond advisors, underwriters, issuers, and commercial mortgage borrowers across the United States.
- Ownership category
- akta.pro rank
Public Finance Partners industry classification
Industry- Product category
- Municipal Finance Verification Services
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD)
Keywords
Where Public Finance Partners is headquartered
LocationHeadquarters
- HQ city
- Tucson
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Public Finance Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Bond Refunding Verification Services: Verification engagements for municipal bond refundings involving refinancing for debt service savings and/or restructuring. Primarily serves financial advisors and underwriters. Revenue driven by interest rate variations and timing of bond maturities.
- Commercial Mortgage Loan Defeasance Verification: Loan defeasance verification services for borrowers replacing real estate collateral with U.S. government securities. Delivers engagement reports with customized transaction models.
- Arbitrage Rebate Compliance: Compliance services calculating whether arbitrage rebate payments must be made on tax-exempt or tax-advantaged bonds. Required once every five years during bond life.
Go-to-market motion1 record
Distribution channels1 record
Public Finance Partners product offering
Product offeringCore offering
Public Finance Partners LLC is a specialized verification services firm serving as Verification Agent to the Public Finance industry. It provides bond refunding verification (cash flow and yield verification), commercial mortgage loan defeasance verification, and arbitrage rebate compliance services to financial advisors, underwriters, municipal bond issuers, and commercial borrowers, using proprietary software to deliver engagement reports and customized transaction models.
Product overview
Public Finance Partners LLC (PFP) is a specialized public finance verification services firm offering a unified portfolio of financial verification and compliance services. The core offerings include Cash Flow and Yield Verification (bond refunding verification), Commercial Mortgage Loan Defeasance, and Arbitrage Rebate Compliance services. Additional services include Escrow Cash Flow Verification, Bond Yield Verification, Post-Issuance Bond Compliance, and Form 990-Schedule K Assistance. The company operates with a team of verification professionals utilizing proprietary software to serve financial advisors, underwriters, issuers, and borrowers across the country.
Differentiator
Problem solved
Functional benefit
Products and services
- Cash Flow and Yield Verification Bond refunding verification engagement involving the refinancing of municipal bonds primarily for purposes of debt service savings and/or restructuring. Refunding bonds can also be issued to remove or revise burdensome bond covenants or to restructure debt service payments. Primarily provided to financial advisors and underwriters; demand is driven by variations in interest rates and timing of maturities.
- Commercial Mortgage Loan Defeasance Loan defeasance verification service allowing a borrower to replace real estate collateral securing a commercial mortgage loan with U.S. government securities through the scheduled maturity date or early prepayment date. Delivers an engagement report supported by a customized transaction model designed to give a clear picture of the financing transaction, including verification of revenue stream and debt service matching calculations.
- Arbitrage Rebate Compliance
Companies that use Public Finance Partners
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Public Finance Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Public Finance Partners partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Maryland Community Investment Corporation (MCIC)minorMCIC and Public Finance Initiative co-hosted a multi-day capacity building workshop in Maryland focused on rural development financing strategies and New Markets Tax Credits. The workshop examined two decades of NMTC activity in the state and included participants from multiple Maryland counties discussing financing barriers and rural investment priorities.
Scale indicators3 records
Recent moves5 records
Expansion highlights4 records
Public Finance Partners competitors and assessment
Company assessmentBroad incumbents
- Eide Bailly LLP: Eide Bailly is a Top 25 U.S. accounting and advisory firm with a dedicated Public Finance practice offering arbitrage rebate, verification, and post-issuance compliance services. As a much larger firm, it represents a broad incumbent that competes with PFP on the same services as part of a wider advisory portfolio.
- Crowe LLP: Crowe LLP is a major accounting and advisory firm that includes public sector and governmental services, including verification and arbitrage rebate work. As a Top 10 U.S. firm, it is a broad incumbent competing with PFP for municipal bond verification mandates.
- BerryDunn: BerryDunn is a national accounting and consulting firm with a public sector practice that provides arbitrage rebate, verification, and post-issuance compliance services to municipal issuers. It competes with PFP as a broader professional services incumbent.
Direct peers
- Acacia Financial Group: Acacia Financial Group is a public finance advisory firm specializing in financial advisory, swap advisory, and verification services for municipal issuers. It directly competes with PFP for verification, defeasance, and arbitrage rebate engagements.
- BLX Group (Orrick): BLX Group, now part of Orrick Herrington & Sutcliffe, is a recognized provider of post-issuance compliance, arbitrage rebate, and verification services for tax-exempt bond issuers. It competes directly with PFP's compliance and verification service lines.
- PFM Group: PFM Group is one of the largest independent public finance advisory firms in the U.S., providing financial advisory, swap advisory, and verification services to state and local governments. It is the most established direct peer to PFP's municipal bond verification and refunding practice.
- TBV Advisors: TBV Advisors is a consulting firm specializing in commercial mortgage loan defeasance and yield verification services. It is a direct peer to PFP's defeasance verification and escrow cash flow verification offerings.
- Arbitrage Compliance Specialists: Arbitrage Compliance Specialists is a niche firm focused on arbitrage rebate and yield reduction calculations for tax-exempt bond issuers. It directly overlaps with PFP's arbitrage rebate compliance service line.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Public Finance Partners social profiles
Digital presencePublic Finance Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Public Finance Partners leadership team
Management profileNumber of profiles
Profiles5 records
Public Finance Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Public Finance Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Public Finance Partners
What does Public Finance Partners do?
Public Finance Partners LLC is a specialized verification services firm serving as Verification Agent to the Public Finance industry. It provides bond refunding verification (cash flow and yield verification), commercial mortgage loan defeasance verification, and arbitrage rebate compliance services to financial advisors, underwriters, municipal bond issuers, and commercial borrowers, using proprietary software to deliver engagement reports and customized transaction models.
Is Public Finance Partners a public or private company?
Public Finance Partners is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Public Finance Partners founded?
Public Finance Partners was founded in 2019. It employs 1 to 10 people.
Where is Public Finance Partners based?
Public Finance Partners is headquartered in Tucson, United States, in the North America region.
How does Public Finance Partners make money?
Three revenue lines are on record. Bond Refunding Verification Services are the primary driver. The others are commercial Mortgage Loan Defeasance Verification and arbitrage Rebate Compliance.
Who are Public Finance Partners's main competitors?
Broad incumbents on record are Eide Bailly LLP, Crowe LLP and BerryDunn. Direct peers are Acacia Financial Group, BLX Group (Orrick), PFM Group, TBV Advisors and Arbitrage Compliance Specialists.
Does Public Finance Partners have an API?
No public API is recorded for Public Finance Partners.
What industry is Public Finance Partners in?
Public Finance Partners's product category is Municipal Finance Verification Services. Its primary akta.pro industry code is BPAHAOAD, Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit). Its SIC code is 6199.