Chimera Investment (CIM) to Acquire Palisades Group
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Chimera Investment Corporation (NYSE: CIM) (“Chimera”) Announces Definitive Agreement to Acquire Palisades Group
October 17, 2024 6:30 AM EDTTransaction Expected to Broaden Chimeras Residential Credit Reach and Be Accretive to Earnings in 2025
NEW YORK--(BUSINESS WIRE)-- Chimera Investment Corporation (NYSE: CIM) (Chimera) today announced that it has entered into a definitive agreement to acquire Palisades Group (Palisades), a U.S.-based alternative asset manager specializing in residential real estate credit. Founded in 2012, Palisades manages and invests in residential real estate assets across a broad spectrum of credit products. Upon closing, Jack Macdowell, Jr., co-founder and Chief Investment Officer of Palisades, will become Chimeras Chief Investment Officer.
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