Satori Capital Invests in Cicero Capital Partners

Texas-based investment firm Satori Capital has completed a USD30 million investment in Cicero Capital Partners. The investment is part of the Satori XL Partnership Program, which forms strategic acceleration partnerships with talented emerging investment managers that typically have at least a three-year track record and less than USD100 million of AUM. Based in Columbia, Maryland, Cicero actively manages a portfolio of commercial mortgage-backed securities (CMBS) and other commercial real estate structured opportunities. The firm’s AUM as of 1 July, 2019, is approximately USD77 million. Cicero’s portfolio managers have developed a comprehensive due diligence process over a combined 38 years of investing through various CMBS cycles across the spectrum of commercial real estate securities. Cicero believes the inefficiency of the CMBS universe creates an opportunity for experienced managers to capture structural alpha in a risk-controlled fashion, and the investment team leverages its extensive experience with analyzing property-level asset valuation and credit quality to access these pockets of inefficiency. Primary drivers of the strategy’s expected returns include higher-yielding event-driven bonds that require deep analysis to reduce risk and a mixture of investment-grade and non-investment-grade CMBS securities.