Churchill Financial Holdings has announced that it has completed the acquisition of L.A.-based Centre Pacific, a manager of CDOs and other fixed income funds, from Centre Partners. Centre Pacific currently has about $3.25 billion in assets under management. In connection with the purchase, Centre Pacific has been renamed Churchill Pacific Asset Management and will become the platform for Churchill Financial's growth in the fixed income asset management area.Churchill Pacific is led by Heather Creeden and the management team at Churchill Pacific also includes Stephen Ahearn, director of research, as well as senior portfolio managers John Casparian and Kevin Hickam. The management team has worked together for over 15 years at Centre Pacific and, before that, at Transamerica Investment Services. Post merger, they will still manage substantially all of the CDO vehicles and mutual funds now being managed by Centre Pacific. In connection with the purchase, Centre Partners will become an investor in Churchill Financial.
-
The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
2h ago -
Known for subprime financing, the sponsor has been making inroads lending to near-prime customers in the last couple of years.
9h ago -
Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24