Sound Point Meridian Executives Boost Confidence with Big Insider Buys

Sound Point Meridian Capital, Inc. (SPMC:US) operates as a closed-end investment company externally managed by Sound Point Meridian Management Company, LLC. With a market capitalization of approximately $316.97 million, the company primarily invests in equity and mezzanine tranches of collateralized loan obligations (CLOs) backed by U.S. senior secured loans. Its main goal is to generate high current income, complemented by capital appreciation through disciplined portfolio management.

A Strong Vote of Confidence from Leadership

In October 2025, two of Sound Point’s most influential figures made notable open-market purchases. Founder and Chair of the Board, Stephen J. Ketchum acquired 8,000 shares across multiple transactions, 5,000 shares on October 20 at $15.61, 2,000 shares on October 21 at $15.31, and 1,000 shares on October 22 at $15.60, totaling about $124,0000.

Meanwhile, CEO Ujjaval Desai purchased 20,000 shares, investing roughly $310,000 between October 20 and October 22. These substantial open-market buys underscore strong leadership alignment with shareholder interests and confidence in Sound Point’s growth trajectory.

Meet the Minds Behind the Moves

Ketchum, the founder and principal owner of Sound Point Capital Management, brings an extensive background from leading roles at Banc of America Securities, UBS, and Donaldson, Lufkin & Jenrette. With an M.B.A. from Harvard Business School, his career spans over 30 years in global investment banking and structured finance, shaping Sound Point’s strategic foundation.

Desai, who joined Sound Point in 2019, is a veteran of structured credit investing, having previously served as Partner at Ares Management and Co-Founder of Indicus Advisors. A graduate of MIT with multiple engineering degrees, he played key roles at Goldman Sachs and J.P. Morgan, where he helped develop the structured credit origination business. His leadership continues to strengthen Sound Point’s position in the CLO market.

Financial Momentum and Strategic Expansion

For the quarter ended June 30, 2025, Sound Point reported a net investment income of $10.8 million ($0.53 per share) and a GAAP net income of $9.7 million ($0.47 per share). The company’s net asset value stood at $18.50 per share, while its CLO equity portfolio yielded a robust 12.9%.  

During the quarter, SPMC deployed $10.9 million into six new CLO equity positions and received $22.6 million in cash distributions. It also declared consistent monthly dividends and extended its CIBC Credit Facility to 2028, enhancing liquidity and operational flexibility.

The coordinated investments by both the Founder and CEO reflect high internal confidence in Sound Point’s structured credit strategy and income-generating potential, reinforcing the company’s strength amid a challenging credit environment.