Palmer Square Capital explores sale amid CLO growth - Bloomberg

Palmer Square Capital Management, a credit firm managing $37 billion in assets, is evaluating a potential sale of its business, Bloomberg reported, citing sources familiar with the situation.

The Kansas-based firm, helmed by married co-founders Chris and Angie Long, has emerged as a major issuer of collateralized loan obligations. Palmer Square has retained bankers who are reviewing offers and narrowing the field of prospective buyers.

The company's principal draw is its CLO platform, representing roughly $27 billion of its total assets under management, per S&P Global data. Over the past 15 years, the U.S. CLO market has expanded fourfold to surpass $1.3 trillion.

Chris Long established Palmer Square to exploit credit-market dislocations following the 2008 financial crisis, initially seeding it with approximately $10 million of personal capital. Angie Long came aboard a few years before the firm started CLO management in 2013.

Angie Long holds the role of chief investment officer, while Chris Long serves as chairman and chief executive officer. The firm's additional investment activities cover opportunistic credit, private credit, and a publicly listed business development company.

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