Spouting Rock Asset Management LLC, a multi-boutique manager platform providing investment solutions and services, finalized its acquisition of Penn Capital Management Company Inc., a fixed-income and equities manager.

“Over the past few months, we’ve had the opportunity to really get to know the team at Penn Capital and couldn’t be more pleased with their breadth of experience, collegial culture and bottom-up approach to investing,” said Spouting Rock CEO, Andrew Smith. “We’re excited for the continued expansion of our platform and the opportunity to support Penn Capital’s growth potential for years to come.”

“We are pleased to join the Spouting Rock platform and are enthusiastic about the future of our partnership for the firm as well as our clients,” said Kirsten Hocker, president, Penn Capital.