09:25 AM EST, 12/03/2024 (MT Newswires) -- Chimera Investment Corp ( CIM/PA ) said Tuesday it has completed its $30 million purchase of the Palisades Group, a US-based alternative assets manager specializing in residential real estate credit.

The deal also included up to $20 million in potential earnout payments over the next five years based on Palisades reaching certain financial targets, with the option for Chimera to pay 50% of the earnout payments in common shares.

The purchase was completed Monday.