180 Degree Capital Corp. Selected to Manage $25 Million by Pension Fund

Rhea-AI Summary

MONTCLAIR, N.J., May 5, 2020 – 180 Degree Capital Corp. (TURN) announced it was chosen by a pension fund to manage $25 million in a separate account, pending an investment advisory agreement and SEC registration as an adviser. The company expects to finalize these steps by mid-to-late Q2 2020. CEO Kevin M. Rendino expressed enthusiasm over this milestone, emphasizing their commitment to expanding their asset base in the future. 180 Degree Capital focuses on investing in undervalued small-cap companies, aiming to assist in significant turnarounds.

Positive

• Selected by a pension fund to manage $25 million, highlighting credibility.
• Anticipated completion of SEC registration, enabling broader asset management.
• CEO emphasis on asset base expansion indicates growth potential.

Negative

• None.

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.

Press Contact:
Daniel B. Wolfe
180 Degree Capital Corp.
973-746-4500

Forward-Looking Statements

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.

FAQ

What is the significance of the $25 million investment for TURN?

The $25 million investment marks a key milestone for TURN, showcasing its credibility and ability to attract institutional funds.

When does TURN expect to start managing the funds from the pension fund?

TURN expects to begin managing the funds in mid-to-late Q2 2020, pending the execution of a definitive agreement.

What is the focus of 180 Degree Capital Corp.?

180 Degree Capital focuses on investing in undervalued small companies, providing value-added assistance through constructive activism.

What are the potential benefits for TURN from the pension fund selection?

The selection by the pension fund could enhance TURN's reputation and provide a steady revenue stream, supporting its investment strategy.