Advent Capital Management Supports COVID-19 Relief Efforts
NEW YORK, June 1, 2020 /PRNewswire/ -- Advent Capital Management ("Advent") today announced its support for COVID-19 relief efforts through donations to Harlem Hospital, Meharry Medical College and the Apollo Theater.
Both the Harlem Hospital and Meharry Medical College are located in urban neighborhoods that have seen large numbers of COVID-19 cases, and as such, Advent has donated a combined total of $50,000 for the procurement of much needed cleaning products and personal protective equipment, including masks, gowns, bleach, sanitizing wipes, paper towels and hand sanitizers.
Advent also granted a $100,000 donation to the Apollo Theater's emergency relief fund, to help financially stabilize the Theater and safeguard its future in response to the cancellation of Apollo-produced live events due to the pandemic.
Tracy Maitland, President and Chief Investment Officer, said: "We're proud to be able to support these two great healthcare institutions in procuring the necessary supplies and PPE required to help protect the frontline health workers in communities who need them most. On behalf of the Advent team and our families, we are truly grateful for what they have done, and continue to do, during these unprecedented times. We're also pleased to be able to help financially stabilize the Apollo Theater, a truly iconic venue and beacon of African American culture in New York that brings together people from around the world. We feel it is incumbent upon responsible corporate citizens to help make sure that these historic institutions continue to contribute meaningfully to society."
Randi Weitz, Director of Communications and Co-Chair of Advent's ESG Committee, said: "Community impact is a core part of Advent's culture and it is important for companies like ours to help those in hard-hit communities. We look forward to identifying more projects, both in New York and across the country, where we can continue to champion diversity and provide support to communities facing COVID-19 related hardship."
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About Advent Capital Management
Advent Capital Management, LLC ("Advent") was founded in 1995 and actively manages approximately $8.5 billion across traditional, alternative and closed-end fund strategies. Advent's team consists of 58 employees in New York and London, including 21 seasoned investment professionals performing bottom-up fundamental credit research to capitalize on global opportunities in convertible securities, high yield and specialist credit investments.
Advent has generated compelling annualized risk‐adjusted returns across all strategies since inception. Its clients include some of the world's largest public and corporate pension plans, foundations, endowments, insurance companies and high net worth individuals. Advent is a signatory to the UN PRI and prides itself on a commitment to a culture of diversity, stemming from a diverse and inclusive workforce.
SOURCE Advent Capital Management, LLC
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