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JMP Group Sells 50.1 pct of JMP Credit Advisors to Medalist Partners

(HedgeCo.Net) JMP Group LLC (NYSE: JMP), an investment banking and alternative asset management firm, announced Friday that it has sold a 50.1% equity interest in JMP Credit Advisors LLC (“JMPCA”) to Medalist Partners LP, an alternative asset management firm specializing in structured credit and asset-backed lending, and a 4.9% interest to management employees of JMPCA. A wholly-owned subsidiary of JMP Group will retain a 45.0% interest in JMPCA.

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