Spouting Rock Asset Management Finalizes Majority Investment in Penn Capital

BRYN MAWR, Pa.–April 1, 2021–Spouting Rock Asset Management, LLC, (Spouting Rock) a multi-boutique manager platform providing investment solutions and services, finalized its acquisition of Penn Capital Management Company, Inc. (Penn Capital) a fixed-income and equities manager.  

Spouting Rock announced plans to acquire a majority stake in Penn Capital in December 2020. The acquisition adds another skilled manager to Spouting Rock’s multi-boutique platform of shared services and complementary investment solutions. While Penn Capital maintains its unique identity and culture, the firm benefits from the Spouting Rock shared service model and strong synergies. 

“Over the past few months, we’ve had the opportunity to really get to know the team at Penn Capital and couldn’t be more pleased with their breadth of experience, collegial culture and bottom-up approach to investing,” said Spouting Rock Asset Management CEO, Andrew Smith. “We’re excited for the continued expansion of our platform and the opportunity to support Penn Capital’s growth potential for years to come.” 

“We are pleased to join the Spouting Rock platform and are enthusiastic about the future of our partnership for the firm as well as our clients,” said Kirsten Hocker, President, Penn Capital. 

About Spouting Rock Asset Management, LLC
Founded in 2018, Spouting Rock Asset Management is a multi-boutique manager platform providing alternative, traditional and thematic investment solutions and services. Located outside Philadelphia, Pennsylvania, we’re an active registered investment manager providing sophisticated investors, financial professionals and institutions with strategies designed to help them plan for their financial future. As a fiduciary, every decision we make is intended to be in the best interests of our clients. Utilizing a thematic investing approach to build solutions allows us to align with the motivations of our clients. 

About Penn Capital Management Company, Inc.
Founded in 1987, Penn Capital is an independent, employee-owned, registered investment management firm. It manages multiple investment styles that leverage coverage of publicly traded companies in the micro- to mid-capitalization range, as well as companies that issue non-investment-grade debt. 


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