Alternative Asset Manager Drift Capital Partners changed its name to Charleston Capital Management in an effort to pay homage to the firm's headquarters, the fund manager told investors this week.

The firm provides structured credit solutions to FinTech enabled Non-Bank Financial Services companies through its privately managed funds. These solutions enable underwriters to enhance their loan programs for small & medium sized businesses, promoting both expansion and job creation at the "main street" level. The asset class has been long overlooked by the capital markets as issues of data reporting and a lack of standardization have previously made structured investments unpalatable.

"We are a Charleston based asset manager. We believe in a strong commitment to our community and are proud to be a part of a thriving neighborhood of companies which have recognized that the Lowcountry is the greatest place in the nation to work." Said Caleb Goding, Co-Founder of Charleston Capital.  "Adopting the Charleston name allows us to contextualize our firm and its home."

The firm had recently been in the news after announcing that the Drift Credit Opportunities Fund, its private credit strategies fund, had secured a $50 million line of credit from an institutional investment management firm as well as announcing that it has hired Edward Hamilton as Head of Capital Markets. Mr. Hamilton brings a diverse skill set having served as a Managing Director at Kidder Peabody and Paine Webber and more recently as a Senior Managing Director of BroadStreet Group, a New York City based merchant bank. Mr. Hamilton will be responsible for leading the firm's capital markets strategy and overseeing financing transactions.

"This is an exciting time for Charleston Capital and the greater structured credit markets." Said Ed Hamilton about the firm. "After a decade of low interest rates, institutional investors have become reliant upon alternative investment managers to uncover hidden opportunities to generate risk adjusted yield and we believe the small & medium sized business loan market offers one of those opportunities."