Muni High-Yield Shop Rosemawr Nets 40% Gain on Soccer Arena Bet

Pawtucket, Rhode Island’s bet that a new 10,500-seat soccer stadium along the Seekonk River can jump-start its fading mill-town economy has already paid off handsomely for one boutique investment firm.

Rosemawr Management, a specialist in higher-risk municipal debt, generated a return of about 40% in roughly two years by helping finance construction of the new home for Rhode Island FC, translating into a gain of about $20 million.