PRAG Announces the Acquisition of Marianne Edmonds, Inc.

New York, NY – Public Resources Advisory Group (PRAG), a financial and investment advisory firm serving state and local governments and their authorities and agencies, announced today that it had acquired Marianne Edmonds, Inc., an advisory firm based in St. Petersburg, FL. PRAG, headquartered in New York City with offices in Los Angeles, metropolitan Philadelphia and Boston, is one of the nation’s leading financial advisory firms. Its clientele include the City of New York, the City of Los Angeles, the City of Atlanta and the states of California, Connecticut, Georgia, Florida, Maryland, New Hampshire, New York, North Carolina and Virginia.

Ms. Edmonds will join PRAG as a Senior Managing Director. She will continue to be based in St. Petersburg and will coordinate Florida coverage for PRAG.

Ms. Edmonds has 15 years experience in Florida as a public finance banker. She specializes in affordable housing, but also has worked extensively on other types of project and revenue financings.

“We are very pleased to have a professional of Ms. Edmonds’ skill and experience joining us,” said William Cobbs, chairman and founder of PRAG. “This will strengthen our presence in one of the nation’s most important public finance markets. Providing funding for infrastructure projects is our principal activity and obviously Florida has a lot of infrastructure needs with its rapidly growing population.”

Tom Huestis, another Senior Managing Director, based in the firm’s metropolitan Philadelphia office, will share responsibility with Ms Edmonds in servicing Florida accounts and developing new business in the state and region.

Ms. Edmonds commented that the combination provides her and her clients “…the analytical and quantitative capabilities of a national public finance practice. PRAG is a firm of impeccable standards and attention to detail which is essential to doing this kind of work well.”

PRAG, founded in 1985, is an independent financial and investment advisory firm wholly owned and managed by its employees. It has worked with more than 45 states and state-level authorities as well as numerous localities. St. Petersburg will be PRAG’s fifth full-service office, joining those in New York, Los Angeles, metropolitan Philadelphia and Boston. Since the firm’s inception, PRAG has advised issuers on over $433.2 billion of financings.