Employee-owned financial services company Mesirow has strengthened its alternative investments capabilities by acquiring Stamford, Connecticut-based Bastion Management.
Bastion, established in 2013, is a private credit manager that specialises in asset-backed specialty finance.
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The company caters to institutional investors, family offices, and high net worth individuals.
Bastion mainly targets the lower middle market across various geographies.
It has completed over 50 transactions, amounting to more than $2bn in commitments over the past 13 years. These financing solutions are designed to offer better returns with downside protection.
Bastion CEO Jay Braden said: “Mesirow’s robust distribution platform will enable us to accelerate our growth while continuing to deliver exceptional service to our clients.
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By GlobalData“We are proud of our historical performance and excited about the opportunities this partnership brings to expand our lending platform and build on our success.”
This acquisition expands Mesirow’s alternatives capabilities, comprising Mesirow Private Equity, Mesirow Currency Management, and Mesirow Institutional Real Estate Direct Investments.
Mesirow CEO Natalie Brown said: “We are pleased to welcome Bastion to Mesirow as we extend our alternatives offering in the asset-backed lending space.
“The Bastion team has built an impressive business and culture that aligns well with our own, and we are confident that they will be an integral part of Mesirow’s ongoing growth and success.”
DLA offerd legal advice to Mesirow during the acquisition process. Bastion relied on Berkshire Global Advisors for financial advice and Latham Watkins for legal counsel.
Founded in 1937 and headquartered in Chicago, with offices globally, Mesirow’s services span global investment management, capital markets and investment banking, and advisory services.
As of 30 September 2024, Mesirow reported $302.6bn in total assets under supervision.
