Chris Long on building $29B credit investment firm Palmer Square and a winning NWSL soccer team, KC Current

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Welcome back to the Alt Goes Mainstream podcast.

Today we have an incredible discussion that spans the world of private credit and the growth of women’s sports - and how those two topics intersect in the guest’s daily life.

Chris Long founded Palmer Square Capital Management, an approximately $29B+ asset manager focused on corporate and structured credit with offices in Kansas City and London, in June 2009. Currently, he serves as Chairman, CEO, and Portfolio Manager.

Since inception, Chris has been successful in building one of the premier credit investment firms in the world that includes clients across institutions, family offices, RIAs, bank / trust, and broker dealers. Prior to starting Palmer Square, Chris built a deep investment background at some of the top financial firms in the world, including Morgan Stanley, TH Lee Putnam Ventures, and JP Morgan.

In December 2020, Chris added the title of Professional Sports Team Owner, as he joined Co-Founder and Owner Angie Long and Co-Owner Brittany Mahomes in bringing a National Women’s Soccer League franchise to Kansas City. The KC Current launched on an extraordinary timeline, playing its first professional match just 124 days after the franchise was announced. As owners, Chris, Angie, Brittany, and recent addition to ownership Kansas City Chiefs star Patrick Mahomes, have had a clear vision for not only establishing the best women’s soccer club in the world, but also having the KC Current serve as a model for all of women’s sports, which was no more apparent than with the recent completion of their new stadium, a $124M project that is the first soccer stadium specifically for a women’s professional soccer team.

Chris serves on the National Women’s Soccer League’s (NWSL) Board of Governors and Expansion Committee as well as on the Executive Committee of the Kansas City 2026 World Cup Bid. Chris was recently recognized for winning the prestigious Kansas City Sports Commission’s 2022 Sports Executive of the Year and Sports Business Journal’s 2022 Power Players — Women’s Sports. He and his wife Angie were inducted into the 2023 Junior Achievement of Greater Kansas City Business Hall of Fame.

Chris and I had a fascinating conversation that spanned the world of credit and sports team ownership and investing — and how those two worlds are coming together. We discussed:

• How Chris and his team built a $29B asset manager in the credit space.
• Why he believes that private credit’s growth does not represent a systemic risk despite a more lax lending environment due to increased capital inflows and increased competition for good deals.
• Why he believes the one-stop-shop will emerge in credit for both borrowers and LPs.
• Why a background in credit and investing has been invaluable in understanding how to navigate the business side of building and running a sports franchise.
• How Chris decided to buy a NWSL team with his wife and co-founder Angie.
• Why Chris believes investing in women’s soccer in the US is like “buying the Boston Celtics in the 1960s.”
• Why owning your own facilities as a sports team is a huge lever to increase revenues and drive enterprise value.
• How driving business initiatives for a sports team can help build the community and build the roster.

Thanks Chris for coming on the show to share invaluable insights into building elite performers in both the world of finance and the world of women’s soccer. Good luck this season with the Current — I’ll be rooting for you, except when you play Angel City FC 😉.

This material is for informational purposes and is prepared by Palmer Square Capital Management LLC (“Palmer Square”), is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of date of publication and are subject to change. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by Palmer Square to be reliable and are not guaranteed as to accuracy or completeness. This material may contain ’forward looking’ information that is not purely historical in nature. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not indicative of current or future results. This information provided is neither tax nor legal advice and investors should consult with their own advisors before making investment decisions. Investment involves risk including possible loss of principal.