Overview
Prima was formed as an independent investment advisor in 2002 and has been registered
with the SEC since that year. Prima is 75% owned by a group of private equity funds
affiliated with Stone Point Capital LLC (“Stone Point”), which manages funds that invest in
companies operating in the financial services industry. The Stone Point entities, mainly
Trident VIII, L.P., and Trident VIII Parallel L.P., hold their interest in Prima through a
corporation they control named Trident Prima, Inc. (“Trident Prima”). Trident Prima owns
approximately 75% of a holding company that owns 100% of Prima (Prima Capital
Advisors Holdings, LLC, “Prima Holdings”); the managing directors of Prima (and related
persons) own the remaining 25% of the holding company.
Prima advises institutional clients and a small number of high-net-worth individuals on
real estate debt investments. Specifically, Prima provides investment advice on commercial
and multi-family mortgages and loans, commercial mortgage-backed securities (“CMBS”),
and bonds/preferred
shares issued by real estate investment trusts (“REITs”). Pending
reinvestment or distribution of clients' funds, Prima may invest client funds in short-term
securities (including U.S. government securities, money market mutual funds, and bank
CDs).
Prima’s clients, which include separately managed accounts and a private fund, enter into
investment management agreements with Prima that include guidelines as to the types and
characteristics of real estate debt investments that they wish to purchase and hold. The
investment guidelines of Prima’s private fund, Prima Mortgage Investment Trust, LLC
(“PMIT”), are set forth in private placement memoranda provided to potential investors
and are part of PMIT’s governing documents. Prima also advises some securitization trusts
that hold real estate debt investments.
As of December 31, 2022, Prima managed approximately $7.116 billion of clients' assets on
a discretionary basis and $883 million on a non-discretionary basis, for a total of
approximately $8 billion.