ATLANTA--(BUSINESS WIRE)--Angel Oak Canopy Partners, LLC (“Canopy Partners”), an independent affiliate of Angel Oak Companies (“Angel Oak”) announced today that it has completed a minority investment in Caravan Capital Management, LLC (“Caravan”), a frontier and emerging markets equity firm formed in 2008 and based in Tacoma, WA.
Canopy Partners is providing operating capital and strategic support to Caravan for the expansion of its business and to better serve its client base. The Caravan team, led by Cliff Quisenberry, brings over 50 years of combined experience in frontier and emerging markets, employing a value-driven approach as they pursue the best risk-adjusted opportunities across this broad set of geographies. Caravan was founded by Mr. Quisenberry, who had previously served as the Director of Research and the chief strategist of emerging markets for Parametric Portfolio Associates from 1995 through his departure in 2007. During his tenure at Parametric, he helped launch that firm’s emerging markets capabilities and initiated coverage of the frontier markets.
The Caravan team includes proven investment and operations professionals with a history of investing in frontier and emerging markets including Ben Griffith, who joined Mr. Quisenberry at the formation of the Company. Caravan’s investment philosophy is built around the belief that they can provide investors with superior returns and less correlation to established indices. Said Mr. Quisenberry, “The team at Canopy Partners has unique expertise in facilitating the growth of asset management businesses. We are attracted by their entrepreneurial culture and welcome the opportunity to partner with them to enhance our business and operations.”
Canopy Partners was formed by key members of Angel Oak to pursue partnership opportunities with select asset management firms, whereby a combination of capital, industry experience and business capabilities would serve as a catalyst to grow and enhance their businesses. “The investment in Caravan represents a unique opportunity for us to partner with a proven group of skilled investors with specific expertise in a growing asset class. We look forward to working with the Caravan team to help in the growth of their business,” said Canopy’s managing director, David Silvera. Caravan will continue to operate as an independent and autonomous business after the transaction.
About Angel Oak Canopy Partners, LLC
Angel Oak Canopy Partners is an independent affiliate of Angel Oak Companies established to strategically partner with compelling asset managers that will benefit from its capital, operating resources, and businesses experience. Other Angel Oak Companies affiliates include Angel Oak Capital, a leading asset management firm with over $5.5 billion in AUM as of 6/30/16 and Angel Oak Home Loans (retail) and Angel Oak Mortgage Solutions (wholesale), which are both national residential mortgage lenders.
For more information about Angel Oak, please visit: www.angeloakcompanies.com.
About Caravan Capital Management, LLC
Caravan Capital is an independent investment management firm specializing in the frontier and emerging equity markets. The firm's investment approach is value-driven and utilizes both top-down and bottom-up analysis to assess the unique opportunities and risks present in early-stage equity markets. The Caravan Team has more than 50 years of combined experience in the frontier and emerging markets.
For more information about Caravan, please visit: www.caravancapitalmanagementllc.com.