On November 10, 2023, Hennessy Advisors announced the acquisition of the Community Capital Management LLC’s Small/Mid-Cap Impact Value Fund.
Under the terms of the transaction, Hennessy Advisors (“Hennessy”) acquired the assets related to the management of Community Capital Management LLC’s (“CCM”) Small/Mid-Cap Impact Value Fund. As a result, the CCM Fund will be reorganized into an existing exchange-traded fund managed by Hennessy. Further terms of the deal were not disclosed.
Hennessy (NASDAQ: HNNA), based in Novato, California is a publicly traded investment advisory firm specializing in mutual funds and domestic equity. As of June 2023, Hennessy had $2.9 billion in assets under management.
CCM, based in Fort Lauderdale, Florida is a registered investment advisor. As of October 2023, the CCM fund had $12 million in assets under management.
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