Palmer Square Raises $240.8M for Excelsior Hedge Fund

A regulatory filing dated Sept. 17 shows Palmer Square Capital Management has sold $240,825,553 of securities for the Palmer Square Excelsior Investments Fund. The vehicle is organized as a Delaware limited liability company and is classified in the filing as a pooled investment vehicle and a hedge fund.

The filing lists Palmer Square as the fund’s managing member and its investment adviser.

Offering documents state a management fee is payable to the investment manager, but the filing does not disclose the fee rate. The filing does not set a maximum offering size, indicating the raise is open and that the firm may accept additional commitments.

Palmer Square is based in Kansas and focuses on credit and fixed-income investing. The firm runs strategies across public and private credit markets and operates a hedge fund platform that offers exposure to credit opportunities through a range of investment approaches.

Beyond the amount raised, the filing gives limited detail on the fund’s investment strategy, use of leverage, investor eligibility or target returns.

As managing member and investment adviser, Palmer Square will handle governance and day-to-day portfolio management. The offering materials set out the legal framework for that relationship but do not disclose specific contractual terms to the public.