RPM Capital Management, LLC

RPM Capital Management is a registered investment adviser that manages discretionary portfolios principally for accredited individuals and their affiliated trusts, foundations, and family offices; the firm reports about $74.3 million in assets under management across roughly 140 client relationships. Its services center on investment management through a Bond Program focused on high-yield tax-exempt municipal bonds and a legacy Blend Program that combines those bonds with selected dividend-paying equities.

The firm’s approach emphasizes origination, structuring, proprietary due diligence, and ongoing monitoring of tax-exempt municipal bonds, with equities selected through fundamental analysis and an expressed preference for securities with limited institutional ownership; accounts are typically managed on a discretionary basis and clients receive quarterly allocation and performance reporting via the BlackDiamond Investor Portal. RPM evaluates securities on an individual basis rather than relying on automated algorithms and notes that its strategies can produce concentration and liquidity considerations for client portfolios.

Noteworthy distinctions include RPM’s active participation on bond origination teams and its disclosed practice of receiving diligence fees that are incorporated into bond pricing when it serves in that role, a potential conflict the firm documents and seeks to mitigate through internal standards. The firm also makes performance results available to clients through its reporting infrastructure, and its operations rely on a small, specialized team whose municipal-bond expertise plays a central role in sourcing and monitoring investments.