PFM Group Concludes Transaction to Reinstate Full Ownership by Managing Directors

PFM Group announces the close of previously announced capital transaction resulting in PFM’s Managing Directors owning all of the equity of the PFM Group.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend

PFM Group

We are very pleased to be able to continue PFM’s tradition of independence, integrity, and unfailing dedication to our clients.

Philadelphia, PA (PRWEB) July 01, 2014

The Managing Directors of the PFM Group (“PFM”) today announced that they have closed on a previously announced capital transaction resulting in PFM’s Managing Directors owning all of the equity of the PFM Group as of June 30, 2014. The transaction was announced in April with the unanimous agreement of PFM’s Managing Directors.

“We are very pleased to be able to continue PFM’s tradition of independence, integrity, and unfailing dedication to our clients,” said PFM Managing Director and CEO John Bonow. “Finalizing this enhanced capital structure enables us to remain intensely focused on adding value for each client, investing in additional industry-leading technologies and training resources, and continuing to attract and retain the most outstanding financial and investment professionals.”

“With the advent of additional federal regulations designed to bring better discipline and protections to the municipal and non-profit marketplace, we are proud to be the nation’s leading independent financial advisory firm serving local governments and non-profits,” he continued. “In addition, PFM Asset Management LLC (PFMAM), as a leading investment manager, is also known for providing clients with highly ethical advice free of conflicts. At PFM, we are focused on excellent client service, supporting the best advisory talent and resources in the industry, and developing suitable and sustainable solutions to our clients’ challenges,” Bonow added.

“All of our colleagues at PFM are enthusiastic about beginning this new chapter in the PFM Group’s distinguished history,” noted Chief Investment Officer and Managing Director Marty Margolis. “We are excited about maintaining our great tradition of delivering the value-added services to our clients that support their goals and help them raise, manage and invest the funds necessary to serve their constituents,” he concluded. Mr. Margolis also noted that there will be no changes in the firm’s management, staffing, or any aspect of client service as a result of the capital transaction.

The PFM Group of companies provides municipal advisory and investment management services, best practices management and budget consulting, and consulting services to pension funds and similar institutional investors. For almost four decades, Public Financial Management, Inc., a component of the PFM Group, has built a solid presence in the municipal marketplace and has provided independent financial advisory services to local, state, and regional government and non-profit clients throughout the United States in their dealings with the capital markets and in the fields of higher education, public power, transportation, healthcare, general municipal, environmental utilities, and management and budget consulting, among others. Public Financial Management, Inc. is a municipal advisor registered with the Securities and Exchange Commission (“SEC”) and the Municipal Securities Rulemaking Board under the Dodd-Frank Act of 2010.

PFM Asset Management LLC (PFMAM), also part of the PFM Group of companies, is registered with the SEC under the Investment Advisers Act of 1940 and manages money market, fixed income and multi asset class portfolios. It has a strong history of thoughtful innovation coupled with an abiding dedication to protecting client capital. At March 31, 2014, PFMAM had $49.9 billion in assets under management for state and local governments and non-profit institutions and provided non-discretionary advice for an additional $40.7 billion.

PFM currently employs more than 500 professionals serving a broad base of clients from offices located in every region of the United States.


Contact

  • Sandra Sosinski
    PFM Group
    +1 215-557-1405
    Email