Chimera to acquire Palisades Group for $30M upfront plus up to $20M earnout

CHIMERA INVESTMENT CORP

Upfront cash consideration of $30M; earnout up to $20M over 5 yrs based on revenue targets.
Closing expected in Q4 2024; transaction expected to be accretive to 2025 earnings.
Jack Macdowell, co-founder/CIO of Palisades, to become Chimera's CIO; Dan Thakkar appointed Chief Credit & Risk Officer.
Combined notional loans/RE assets owned, advised, or managed exceed $30B.
Adds 36 professionals; diversifies income streams with capital-light fee-based model.

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