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May 31, 2023

Patient Capital Finalizes Bill Miller’s Succession Planning Deal

Patient Capital Management Completes Acquisition from Miller Value Partners

Baltimore, MD (May 30, 2023) – Patient Capital Management, LLC (“Patient Capital”) announced it has completed the acquisition of the Opportunity Equity business from Miller Value Partners (“Miller Value”) as part of legendary investor Bill Miller’s previously announced succession plans.

Patient Capital, an SEC registered investment adviser, was founded in 2020 by Samantha McLemore, CFA, to bring her investment practice to the institutional market.  She has served as a Portfolio Manager of the Opportunity Equity strategy for over a decade and has worked alongside her former co-manager and mentor, Bill Miller, since starting in the industry at Legg Mason in 2002. Bill will remain a minority owner of Patient Capital and an investor in the products it manages.

“We couldn’t be more excited for Patient Capital’s future.  While our name will change, you should expect continuity from us.  The same investment and administrative teams continue to support our products. We carry on an investment philosophy and process developed and refined over many decades. We have the utmost confidence in the patient, flexible, value approach that’s served clients well over the years,“ said Samantha McLemore, CEO and Chief Investment Officer of Patient Capital.

Patient Capital has co-operated with Miller Value since its inception.  Upon completion of this transaction, Patient Capital has become a fully independent investment adviser managing $1.5B for institutional and individual relationships. The Firm’s strategies are available through a mutual fund with a 20+ year track record, separately managed accounts as well as a private fund.

About Patient Capital Management LLC

Patient Capital Management LLC is an SEC registered investment advisor founded in 2020 by Samantha McLemore, majority owner and Chief Investment Officer. With the completion of the acquisition, Patient Capital Management manages $1.5B1 in assets under management featuring an opportunistic, long-term, value-oriented equity strategy. The Firm is supported by a team of 10 professionals and is located in Baltimore, Maryland.

1Assets as of 4/30/23

The views expressed in this report reflect those of Patient Capital Management portfolio manager(s) as of the date of the report. Any views are subject to change at any time based on market or other conditions, and Patient Capital Management disclaims any responsibility to update such views. The information presented should not be considered a recommendation to purchase or sell any security and should not be relied upon as investment advice. It should not be assumed that any purchase or sale decisions will be profitable or will equal the performance of any security mentioned. Past performance is no guarantee of future results.

©2023 Patient Capital Management, LLC