MEMPHIS, Tenn.–(BUSINESS WIRE)–Oct 18, 2023–
Today, Preserver Partners, LLC (“Preserver”) and Channing Alternatives, LLC, a newly formed affiliate of Channing Capital Management, LLC (“Channing”) announce a new strategic partnership. The alliance will enable Preserver to leverage the substantial resources of Channing to enhance business development and firm operations while Channing has acquired a passive minority stake in Preserver. Both will continue to manage their firms and funds independently and neither firm will have involvement in the other’s investment advisory decisions.
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“Today represents an exciting chapter for our firm, enabling Preserver to accelerate growth by partnering with Channing. I am extremely proud of the entire Preserver team for the considerable progress we have made over the past few years in growing our institutional client base and developing a strong operations platform,” said Preserver CEO Dana Pointer. Caroline Lovelace, Preserver’s CIO, added, “Joining forces with Channing, an incredibly successful investment firm, represents a further opportunity to capitalize on our firm’s momentum and continue to enhance the value we deliver to our investors.”
“This alliance with Preserver enables us to join forces with one of the few minority-owned alternative asset management firms in the industry. Preserver’s proven 14-year track record, unique investment strategy and investor-centric approach mirrors Channing’s commitment to a research-intensive and fundamental process alongside tailored client service,” said Rodney Herenton, Channing’s Founder and Co-CEO. Wendell Mackey, Founder and Co-CEO of Channing added, “Dana and Caroline represent an African-American female-owned and led firm that has tremendous growth potential in alternative investment strategies where we feel demand is present. I’ve been impressed by the excellent job Preserver’s investment team has done in executing their niche investment strategy.”
About Preserver Partners, LLC
Founded in 2009, Preserver Partners is an alternative investment management firm, based in Memphis, TN, which manages opportunistic multi-strategy private funds and separately managed accounts on behalf of public pension plans, endowments, foundations, corporations, and family offices.
About Channing Capital Management, LLC
Founded in 2003, Channing Capital Management is a boutique investment management firm serving a diverse institutional investor base. Since inception, Channing has grown its assets under management and advisement to more than $3.4 billion (as of September 30, 2023) using a consistent, singular investment approach: Intrinsic Value. Based in Miami, FL, Channing Alternatives, LLC is an affiliate of Chicago-based Channing Capital Management, LLC.
THIS PRESS RELEASE IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. THIS IS NOT AN OFFER OR SOLICITATION WITH RESPECT TO THE PURCHASE OR SALE OF ANY FUND OR SECURITY.
View source version on businesswire.com:https://www.businesswire.com/news/home/20231018326213/en/
Mitch Ackles, 646-657-9230,mitch@hedgefundpr.net
KEYWORD: UNITED STATES NORTH AMERICA TENNESSEE
INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES BUSINESS FINANCE
SOURCE: Preserver Partners, LLC and Channing Capital Management, LLC
Copyright Business Wire 2023.
PUB: 10/18/2023 09:00 AM/DISC: 10/18/2023 08:59 AM
http://www.businesswire.com/news/home/20231018326213/en
