JMP Group Announces Investment in Astor Investment Management
28 November 2017 - 10:45PM
Business Wire
JMP Group LLC (NYSE: JMP), an investment banking and alternative
asset management firm, announced today that its asset management
subsidiary, Harvest Capital Strategies LLC, has made a minority
investment in Astor Investment Management LLC, a Chicago-based
registered investment advisor with $1.9 billion of assets under
management.
Astor’s approach to asset allocation is driven by macroeconomic
theory, utilizing a broad range of asset classes with low
correlation to the broader market. The firm offers its products
through a variety of channels, including mutual funds, separately
managed accounts and universal managed accounts.
“We are very optimistic about our long-term partnership with the
team at Astor,” said KC Lynch, president of Harvest Capital
Strategies. “By combining economic analysis and dynamic ETF
portfolio construction, Astor has helped its clients manage risk in
various market environments for over a decade. This investment
broadens our asset management platform and extends both firms’
product offerings and distribution capabilities.”
“We are proud to be partnering with Harvest Capital Strategies
and JMP Group,” said Robert Stein, chief executive officer of
Astor. “Our agreement gives Astor the latitude to develop new
investment strategies and applications while also introducing our
existing investment solutions to a much wider client base.”
About JMP Group
JMP Group LLC is a diversified capital markets firm that
provides investment banking, equity research, and sales and trading
services to corporate and institutional clients as well as
alternative asset management products and services to institutional
and high-net-worth investors. JMP Group conducts its investment
banking and research, sales and trading activities through JMP
Securities; its hedge fund, venture and private capital, and credit
management activities though Harvest Capital Strategies, JMP Asset
Management and JMP Credit Advisors; and the management of Harvest
Capital Credit Corporation (NASDAQ: HCAP), a business development
company, through HCAP Advisors. For more information, visit
www.jmpg.com.
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Investor Relations ContactJMP Group LLCAndrew Palmer,
415-835-8978apalmer@jmpg.comorMedia Relations ContactsDukas
Linden Public Relations, Inc.Ben Jaffe,
212-704-7385ben@dukaspr.comZach Leibowitz,
212-704-7385zach@dukaspr.com
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