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 $76.66 billion in assets under management as of September 30, 2024.¹ 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.

¹ AUM includes committed but unfunded capital for PPM’s private equity and commercial real estate businesses.

There can be no guarantee that any strategy will be successful. All investing involves risk, including potential loss of principal. The determination of “best-in-class” is solely the opinion of the Fund’s Adviser, and such opinion is subject to change. Those companies that hold leading market share positions, strong growth potential, historically good profitability, and management teams known for integrity and good corporate governance are generally considered to be “best-in-class.”

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