PMA Completes Acquisition of Miles Capital

Naperville, Ill. – March 31, 2020


PMA, a premier full-service provider of comprehensive financial and advisory services to municipalities, school districts, other local government entities and insurance companies, announced today that it has acquired substantially all of the assets of Miles Capital, Inc. (“Miles Capital”) from Founder and principal owner David Miles and other employee owners and investors. The transaction was originally announced in January 2020 pending completion of customary closing conditions, including any required regulatory approvals. Terms of the agreement were not disclosed.

Founded in 1982, Miles Capital is an independent, institutional, SEC-registered investment adviser providing institutional quality investment solutions to insurance companies, government entities, not-for-profit organizations, schools and high net-worth individuals. Miles Capital currently manages over $1.5 billion in AUM in investment strategies covering three primary asset classes – fixed income, equity and alternatives.

“We are proud to have closed this transaction within the timeline originally agreed to by all parties, and this is a testament to both the strategic merits of combining these organizations and the dedication to hard work and excellence inherent in the Miles Capital and PMA professionals and culture,” said James O. Davis, Chief Executive Officer of PMA.

In addition to the close, in an effort to bring together all of PMA’s business lines under one unified PMA brand, PMA’s SEC-registered investment adviser, Prudent Man Advisors, LLC, will be doing business as (“d/b/a”) PMA Asset Management, LLC, moving forward. This evolution not only simplifies PMA’s brand following the Miles Capital acquisition, but importantly also reflects PMA’s strong brand recognition as well as a culture of integrity, commitment to clients and performance.

PMA was advised by Kirkland & Ellis LLP. Miles Capital was advised by Godfrey & Kahn.


About PMA

PMA Financial Network, LLC, PMA Securities, LLC and PMA Asset Management, LLC (“the PMA companies” or “PMA”) are under common ownership. The PMA companies serve over 3,200 municipalities, school districts, local government investment pools, insurance companies and other institutions across 12 states by providing investment, financial management and fund administration services. PMA provides a comprehensive array of discretionary and non-discretionary investment advice to our clients through pooled, separate accounts and self-directed investment solutions, in addition to public finance services.

For more information, go to www.pmanetwork.com.

About Miles Capital

Miles Capital is an independent, institutional, SEC-registered investment adviser. Founded in 1982, our mission has always been to design and deliver investment solutions that help support client success. Our outstanding investment teams manage all three primary asset classes – fixed income, equity, and alternatives – for our clients. This breadth helps us provide guidance and comprehensive solutions to each insurance company, government entity, not-for-profit organization, school, or high net-worth individuals. For nearly four decades, our focus has not wavered. We are driven by our values of integrity, boldness, collaboration, and performance to provide investment solutions and help clients achieve results that matter, visit www.miles-capital.com.

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PMA Contact Information

Matt Orseske

630-657-6408

morseske@pmanetwork.com

Disclosures
 

The views expressed herein are the current views of Miles Capital as the stated date and are provided for informational purposes only. They are believed to be correct, but accuracy and completeness cannot be guaranteed and should not be relied upon for legal or investment decision purposes. All expressions of opinion and predictions presented are subject to change without notice. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Past performance is not a guarantee of future results. Diversification does not ensure a profit or protect against market loss. As with all strategies, there is a risk of loss or all or a portion of the amount invested.

Contact Us


1415 28th Street, Suite 200
West Des Moines, IA 50266
Phone: (515) 543-8400
Toll Free: (800) 343-7084
inforequest@miles-capital.com

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DISCLOSURES: The information provided herein is furnished by Miles Capital, Inc. solely for informational purposes and is confidential. It may not be reproduced or distributed to anyone else without prior consent. This document contains the current views of Miles Capital and is not intended to be, and should not be interpreted as, a recommendation of a particular security, product, or investment strategy. Such opinions and predictions are subject to change without notice. The strategies described in the presentation may not be suitable for all investors. There is no assurance that any of the objectives described will be achieved. This information contained herein does not take into account the particular investment objectives or financial circumstances of any specific person or entity who may receive it. You should consult your tax or legal advisor before making an investment, and investors are advised to thoroughly and carefully review financial, legal, and tax consequences of all investments to determine suitability. Investments in alternative assets may be illiquid and present significant risks. Past performance is not a guarantee of future results. There can be no guarantee that any investment strategy discussed in this Presentation will achieve its investment objectives. As with all strategies, there is a risk of loss of all or a portion of the amount invested. Diversification does not ensure a profit or protect against market loss.