{"url":"https://nivawealth.com/firms/ppm-america-107269","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/107269","regulatoryAum":93793612433,"crd":"107269","secFileNumber":"801-40783","legalName":"PPM America, Inc.","displayName":"PPM America","website":"http://www.ppmamerica.com","founded":null,"organization":"Delaware corporation","fiscalYearEnd":"December","headquarters":{"street":"225 West Wacker Drive, Suite 1200","city":"Chicago","state":"IL","stateName":"Illinois","country":"United States","postalCode":"60606"},"tradeNames":[],"registration":{"secApproved":"20 February 1992","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":217,"advisory":117,"brokerDealerReps":8,"insuranceAgents":0,"promoters":8},"aum":{"discretionary":92947182697,"discretionaryAccounts":57,"nonDiscretionary":846429736,"nonDiscretionaryAccounts":10,"wrapProgram":null,"nonUsClientsPct":35,"nonAumClients":1},"clientTypes":[{"label":"High-net-worth individuals","clients":1,"regulatoryAum":1541700},{"label":"Investment companies","clients":1,"regulatoryAum":3435474032},{"label":"Pooled investment vehicles","clients":26,"regulatoryAum":11737530142},{"label":"Pension and profit-sharing plans","clients":1,"regulatoryAum":52455032},{"label":"Other investment advisers","clients":1,"regulatoryAum":4420773004},{"label":"Insurance companies","clients":15,"regulatoryAum":74113656884},{"label":"Corporations and other businesses","clients":1,"regulatoryAum":32181639}],"fees":[],"feeNotes":[],"custodians":[{"name":"The Bank of New York Mellon","shortName":"The Bank of New York Mellon","location":"New York, NY","smaAssets":53150789600},{"name":"Citibank, National Association","shortName":"Citibank, National Association","location":"New York, NY","smaAssets":10558607435},{"name":"State Street Bank and Trust Company","shortName":"State Street Bank and Trust","location":"Boston, MA","smaAssets":14197526209}],"custodyNote":"PPM America has custody of $2.39B for 2 clients.","otherCustodians":[],"leadership":[{"name":"Christopher Raub","title":"President, Chief Executive Officer, Chairman of the Board, Director","crd":"6516079"},{"name":"Thomas Barrus","title":"Senior Vice President, Chief Compliance Officer","crd":"4190643"},{"name":"Mary Capasso","title":"Executive Vice President, Chief Operating Officer, General Counsel, Director","crd":"2382462"},{"name":"Oliver Jordan","title":"Executive Vice President, Chief Financial Officer","crd":"7332228"},{"name":"Savvas Binioris","title":"Director","crd":"6314984"},{"name":"Thomas Janda","title":"Director","crd":"8281838"},{"name":"Alison Reed","title":"Director","crd":"3241221"}],"ownership":[{"label":"PPM Holdings, Inc.","detail":"Sole shareholder of applicant in the 75% or more ownership band and a control person, since February 1996."},{"label":"Jackson Holdings LLC","detail":"Indirect owner: a sole shareholder of PPM Holdings, Inc. in the 75% or more band and a control person, since March 2006.","parent":"PPM Holdings, Inc."},{"label":"Jackson Financial Inc.","detail":"Indirect owner: a sole shareholder of Jackson Holdings LLC in the 75% or more band and a control person, since December 2015.","parent":"Jackson Holdings LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":5,"privateResidences":4},"listedOfficeAddresses":2,"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"515 S. Figueroa Street","city":"Los Angeles"}]},{"state":"Illinois","offices":1,"addresses":[{"street":"225 West Wacker Drive, Suite 1200","city":"Chicago","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"312-634-2500","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Fixed fees (other than subscription fees)","Performance-based fees","Other"],"activities":["Portfolio management for individuals and/or small businesses","Portfolio management for investment companies","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients","Selection of other advisers (including private fund managers)"],"financialPlanningClients":null,"assetMix":[{"label":"Investment grade corporate bonds","percent":84},{"label":"Cash and cash equivalents","percent":1},{"label":"Other","percent":15,"detail":"We Have Included in Other - Abs, MBS, CMBS, Reits, Commercial Mortgages, and Bank Loans"}],"privateFunds":11},"sources":{"adv1FilingDate":"29 May 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/107269/PDF/107269.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does PPM America have?","answer":"PPM America has 46 clients and manages $93.8 billion for them, as of May 2026. They include 26 pooled investment vehicles, 15 insurance companies and 1 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 29 May 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does PPM America offer?","answer":"PPM America provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does PPM America use?","answer":"PPM America’s separately managed account assets are held at The Bank of New York Mellon (New York, NY), with $53,150,789,600, State Street Bank and Trust Company (Boston, MA), with $14,197,526,209 and Citibank, National Association (New York, NY), with $10,558,607,435. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 May 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does PPM America have?","answer":"PPM America has 0 investment adviser representatives registered with state securities authorities, out of 217 employees, and 117 perform investment advisory functions. 8 are registered representatives of a broker-dealer and 0 are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does PPM America invest in?","answer":"At the end of its last fiscal year, PPM America’s separately managed accounts held 84% investment grade corporate bonds, 15% we have included in other - abs, mbs, cmbs, reits, commercial mortgages, and bank loans and 1% cash and equivalents. It advises 11 private funds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns PPM America?","answer":"PPM America is owned through a chain of holding companies by Jackson Financial Inc. Its direct owner is PPM Holdings, Inc. (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 29 May 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does PPM America get paid?","answer":"PPM America is paid through a percentage of assets under management, fixed fees, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":{"url":"https://nivawealth.com/firms/ppm-america-107269/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-06","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/898417/000089841726000008/0000898417-26-000008-index.html","totalValue":15064930,"positionCount":4,"top10Share":1,"top10":[{"issuer":"INVESCO SENIOR LOAN","titleOfClass":"INVESCO SENIOR LOAN ETF","cusip":"46138G508","value":7333200,"shares":360000,"shareType":"SH"},{"issuer":"MPLX LP","titleOfClass":"MPLX LP","cusip":"55336V100","value":4911976,"shares":87200,"shareType":"SH","priorValue":4976504,"priorShares":87200},{"issuer":"Sangoma Technologies","titleOfClass":"Sangoma Technologies Corp","cusip":"80100R408","value":2547535,"shares":688523,"shareType":"SH","priorValue":2609502,"priorShares":688523},{"issuer":"Clear Channel Outdoo","titleOfClass":"Clear Channel Outdoor Holdings","cusip":"18453H106","value":272219,"shares":112487,"shareType":"SH","priorValue":1672303,"priorShares":705613}],"positionsListed":4,"positions":[{"issuer":"INVESCO SENIOR LOAN","titleOfClass":"INVESCO SENIOR LOAN ETF","cusip":"46138G508","value":7333200,"shares":360000,"shareType":"SH"},{"issuer":"MPLX LP","titleOfClass":"MPLX LP","cusip":"55336V100","value":4911976,"shares":87200,"shareType":"SH","priorValue":4976504,"priorShares":87200},{"issuer":"Sangoma Technologies","titleOfClass":"Sangoma Technologies Corp","cusip":"80100R408","value":2547535,"shares":688523,"shareType":"SH","priorValue":2609502,"priorShares":688523},{"issuer":"Clear Channel Outdoo","titleOfClass":"Clear Channel Outdoor Holdings","cusip":"18453H106","value":272219,"shares":112487,"shareType":"SH","priorValue":1672303,"priorShares":705613}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}