Parliament Capital Management opens office in Santurce
Parliament Capital Management LLC, an investment management firm based in San Juan with a focus on direct lending and other credit opportunities, recently expanded its local footprint with the opening of its new offices in the Ciudadela complex in Santurce.
Since the launch of its investment management practice in 2014, PCM has become a leader in the private credit space in Puerto Rico, having closed more than $225 million in financings across a number of industries in Puerto Rico and the mainland United States, the company said.
“Parliament’s ability to move quickly and consistently to provide financing alternatives to its borrowers has been a key to our success,” said Rodolfo Sánchez-Colberg, co-founder and managing partner.
“Our borrowers look at us as partners as they continue to take advantage of the opportunities that the market is affording them, whether it is funding for growth, acquisitions, buyouts or restructurings,” he said.
PCM focuses on lower-middle market companies with strong operating cashflows looking for loans in the $1 million to $25 million-dollar range.
The company estimates that through financing from PCM, borrowers have created or “saved” more than 2,000 jobs.
“We’re very pleased with the growth of our company and the impact it has had on the economy and ecosystem,” said Luis Cabrera-Marín, co-founder and managing partner.
“For 2020, we are preparing to exponentially increase our assets under management, which stood at $78 million as of Dec. 31, 2019, and to continue to take advantage of the significant opportunities in the credit markets,” he said.
“The continued consolidation of the Puerto Rico banking sector will certainly require the private capital sector to step up and bridge the gap,” he added.
In anticipation of the continued growth, the firm has recently expanded its team through the hiring of Wilnerys Alvarez-Rivera as chief compliance officer and in-house counsel, and CPA Raúl Vázquez-Calderón, as analyst.
“Adding strong and experienced talent like Wilnerys and Raúl to a growing team, which now consists of 10 investment and operations professionals, and opening our new office was the next step in Parliament’s continuous growth,” said José Ricardo Otero-Freiría, managing partner.
“While we continue to be very entrepreneurial in our ways of doing business, we have been investing heavily in technology, compliance and operations to provide our clients and investors with the highest quality, institutional grade service,” he said.