Intermarket Corporation

Intermarket Corporation, established in 1969, specializes in providing investment management services to private investment funds focused on distressed businesses. The firm, controlled by David B. Forer and Thomas P. Borger, manages approximately $410.3 million in net assets as of December 31, 2024. Intermarket's investment strategy involves event-driven investing, emphasizing flexibility to capitalize on specific opportunities. The firm charges a fixed annual management fee and may receive performance-based fees from the funds. Intermarket exercises investment discretion on a discretionary basis, managing all assets in this manner. The firm's investment philosophy aims to maximize long-term capital growth through investments in undervalued securities, primarily senior secured debt securities. Intermarket's risk management process includes monitoring the portfolio composition. The firm votes proxies in the best interests of its clients and maintains custody of clients' cash and securities. Intermarket has a Code of Ethics to guide its operations and manages potential conflicts of interest related to brokerage practices and client referrals. The firm has not faced any material disciplinary events or financial conditions that could impact client commitments.