Great Elm Group (GEG) Announces its Strategic Partnership with KLIM

Great Elm Group, Inc. (NASDAQ:GEG) is one of the Best Penny Asset Management Stocks to Buy Now. On August 1, Great Elm Group, Inc. (NASDAQ:GEG) announced a major strategic partnership with KLIM, which is an alternative investment firm managing over $30 billion.

Under this partnership, KLIM has agreed to provide $100 million as a term loan to the company’s Monomoy REIT platform. The term loan comes with the option to increase by $50 million later. Moreover, KLIM is also buying 4.9% of Great Elm Group, Inc.’s (NASDAQ:GEG) common stock and gaining a profits interest in Great Elm Real Estate Ventures.

Great Elm Group (GEG) Announces its Strategic Partnership with KLIM

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Monomoy is the company’s real estate platform that offers project management, construction, asset management, and other services for industrial real estate tenants.

Great Elm Group, Inc. (NASDAQ:GEG) is an alternative asset management company that focuses on building a diverse portfolio across credit, real estate, specialty finance, and other alternative strategies.

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Disclosure: None. This article is originally published at Insider Monkey.