November 14, 2024
On November 12th, PPM America, Inc. (PPM) announced the closing and liquidation of its remaining two mutual funds, the PPM Core Plus Fixed Income Fund (PKPIX) and the PPM High Yield Core Fund (PKHIX) which consisted solely of internal and seed capital investors. This action will complete the firm’s liquidation of the PPM Funds platform, as the firm focuses on delivery of its investment strategies through other commingled products.
“We continuously evaluate solutions with the goal to provide best-in-class performance and service to our clients,” said Jeff Seaver, Senior Managing Director, Head of Global Distribution. “Our recent distribution efforts with institutional investors have demonstrated that clients often desire greater efficiency and flexibility in a commingled vehicle than we can attain through a mutual fund.”
About PPM America
Our mission is to be seen by clients and their advisors as a consistently reliable partner to help them achieve their long-term value goals.
PPM is a US-based institutional asset manager with $74.42 billion in assets under management as of December 31, 2024.* Established in Chicago in 1990, PPM exists to consistently support institutional clients in achieving their long-term value goals. We offer our Midwestern mentality of hard work, straight talk, full transparency and humility. Our success is supported by a team-based culture that encourages debate, collaboration and consistency. At the center of our belief is the fact that our best ideas to date have and can come from any team member anywhere in our firm. We believe the success of our investment culture is best demonstrated by the strong retention of our clients and investment professionals.
* AUM includes committed but unfunded capital for PPM’s private equity and commercial real estate businesses. AUM includes both securities issued by PPM CLO vehicles held by PPM separately managed account clients and the underlying collateral assets of the CLO vehicles managed by PPM.
Past performance is no guarantee of future results. There can be no assurance that any particular individual will be involved in the management of any portfolio for any period of time, if at all. Furthermore, there can be no assurance that any PPM professionals presented herein will remain with PPM or that past experience or performance of such professionals serves as an indicator of his or her performance. Forward-looking statements are subject to uncertainties that could cause actual developments and results to differ materially from the expectations expressed. The opinions and views expressed herein are not intended to be relied upon as a prediction or forecast of actual future events or performance, guarantee of future results, recommendations or advice. Opinions expressed herein are current as of the date indicated and are subject to change without notice.
