Medalist Partners LP accelerated a buyout option to acquire remaining 49.9% stake in Medalist Partners Corporate Finance LLC from JMP Group LLC (NYSE:JMP) and others on July 1, 2021. Lowenstein Sandler LLP served as legal counsel for Medalist Partners on the transaction. As of June 30, 2021, Medalist Partners LP completed the acquisition of 45% stake. The Company received a $1.5 million upfront cash payment, canceled its previous fee-sharing agreement, and entered into a new fee sharing agreement, in which the Company will retain an interest to receive 20 basis points of the total 35 basis points in subordinated management fees from JMP Credit Advisors CLO IV Ltd. And JMP Credit Advisors CLO V Ltd. The Company recognized a realized gain of $1.4 million on this transaction.