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Overview
Chimera Investment Corporation acquired Palisades Group, a Texas-based asset manager focused on global residential credit and real estate-backed loans. Palisades operates two main activities: sub-advisory services for large institutional clients and discretionary, closed-end funds that invest institutional capital in whole loans, real estate, and fixed-income assets. The firm uses a control-based credit management approach that analyzes loans at the loan level, leveraging proprietary data and technology to manage risk and mitigate losses. Its goal is to deliver steady income and capital appreciation with low volatility by combining distressed-asset experience with newly originated, performing loans and a dual advisory/fund model for institutional investors.
About Chimera Investment
Industries
Data & Analytics
Quantitative Finance
Financial Services
Real Estate
Company Size
11-50
Company Stage
Acquired
Total Funding
$30M
Headquarters
Santa Monica, California
Founded
2005
Simplify's Take
What believers are saying
- Acquisition adds $48.3B loans, enhancing Chimera's scale and presence.
- Jack Macdowell as CIO strengthens quantitative mortgage analytics expertise.
- Sub-advisory services diversify revenue from institutional clients like banks.
What critics are saying
- Jack Macdowell departs within 12-24 months, triggering portfolio write-downs.
- Residential credit defaults from recession erode $48.3B portfolio value.
- Palisades sub-advisory clients defect in 6-18 months, losing fee revenue.
What makes Chimera Investment unique
- Palisades employs granular loan-level control-based credit management strategy.
- Proprietary data and technology drive risk management and loss mitigation.
- Evolved from distressed to performing newly originated residential loans.
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Funding
Total Funding
$30M
Above
Industry Average
Funded Over
1 Rounds
Company News
Chimera Investment Corporation (NYSE: CIM) has completed its acquisition of Palisades Group, a U.S.-based alternative asset manager specializing in residential real estate credit. The deal closed on December 2, 2024, with Chimera paying $30 million in cash and a potential earnout of up to $20 million over five years. Jack Macdowell, Jr., co-founder of Palisades, is now Chimera’s Chief Investment Officer. Houlihan Lokey and Hunton Andrews Kurth LLP advised Chimera, while Mayer Brown LLP advised Palisades.
Chimera Investment Corporation (NYSE: CIM) has acquired Palisades Group, a U.S.-based alternative asset manager specializing in residential real estate credit. The deal, finalized on December 2, 2024, included a $30M cash payment, with a potential additional earnout of up to $20M over five years based on financial performance. Chimera may pay 50% of the earnout in common shares. Palisades' co-founder and CIO, Jack Macdowell, Jr., is now CIM's Chief Investment Officer.
Chimera Investment Corporation (NYSE: CIM) (“Chimera”) today announced that it has entered into a definitive agreement to acquire Palisades Group (“Pa
EquiFi has previously raised $7 million in equity from a range of private and venture capital investors.
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About Chimera Investment
Industries
Data & Analytics
Quantitative Finance
Financial Services
Real Estate
Company Size
11-50
Company Stage
Acquired
Total Funding
$30M
Headquarters
Santa Monica, California
Founded
2005
There are no jobs for Chimera Investment right now.
Find jobs on Simplify and start your career today