MONTCLAIR, N.J., May 05, 2020 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (“180”) announced today that it was selected by a pension fund to manage $25 million in a separately managed account. This selection is subject to negotiation and execution of a definitive investment advisory agreement and the effectiveness of 180’s registration as a Registered Investment Adviser with the Securities and Exchange Commission. 180 currently expects to complete these steps and begin management of the funds in mid-to-late Q2 2020.
“We are excited to have been selected by a pension fund to manage $25 million of capital alongside 180’s permanent capital,” said Kevin M. Rendino, Chief Executive Officer of 180. “This announcement marks our first big win in our efforts to manage additional capital, but we are determined to not have it be our last. We will continue to build our asset base for those that want to invest in our strategy.”
About 180 Degree Capital Corp.
180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.
Daniel B. Wolfe
180 Degree Capital Corp.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.