Mesirow Boosts Alternative Investments with Bastion Management Acquisition!
Big news in the financial world! Mesirow has made a bold move by acquiring Bastion Management, a top-tier asset-backed lender, paving the way for an exciting expansion of its alternative investment offerings.
- Bastion will now be integrated into Mesirow Global Investment Management, playing a pivotal role in the firm’s expansion into Private Credit and Asset-Backed Lending.
- This acquisition is a key milestone in Mesirow’s strategy to enhance its alternative investment capabilities for institutional investors and high-net-worth clients.
- The addition of this distinctive private credit product will effortlessly complement Mesirow’s existing alternative investment offerings, including Currency Management, Private Equity, and Institutional Real Estate Direct Investments.
CHICAGO, Jan. 6, 2025 /PRNewswire/ — In a significant strategic move, Mesirow, an independent and employee-owned financial services powerhouse, has officially acquired Bastion Management, a leader in asset-backed specialty finance lending, with the deal finalized on December 31, 2024.
Founded in 2013 and headquartered in Stamford, CT, Bastion has carved out a niche in private credit management, focusing on asset-backed specialty finance. The firm caters to the lower middle market across various sectors and geographies, providing tailored financing solutions that aim for impressive returns while ensuring robust downside protection. With over 50 transactions and more than $2 billion in commitments over 13 years, Bastion has built a sophisticated investor base comprising endowments, institutional investors, family offices, and high-net-worth individuals.
“Joining Mesirow represents an exciting new chapter for us,” said Jay Braden, CEO of Bastion. “Their client-centric approach and commitment to nurturing long-term relationships resonate perfectly with our values. We believe this partnership will supercharge our growth and enhance the exceptional service we’ve always provided to our clients.”
“As we continue to implement our growth strategy focused on offering best-in-class products to meet client needs, Bastion stands out as a prime asset given their strong returns and top-notch client service in a compelling market,” added Ketan Shah, Mesirow’s Chief Strategy Officer and General Counsel.
Legal guidance for Mesirow was provided by DLA, while Berkshire Global Advisors served as financial advisors for Bastion, with Latham Watkins acting as Bastion’s legal counsel.
Moving forward, Mesirow is committed to enhancing its established alternative investment capabilities, encompassing Currency Management, Private Equity, and Institutional Real Estate Direct Investments, alongside its wealth management, fiduciary services, and capital markets/investment banking offerings.
As of September 30, 2024, Mesirow oversees an impressive $302.6 billion in total assets. For more information, visit mesirow.com.
About Mesirow
Mesirow is a pioneering, employee-owned financial services firm, founded in 1937. With its headquarters in Chicago and a global presence, Mesirow is dedicated to delivering personalized, goal-oriented financial solutions while actively contributing to social good. The firm’s expansive capabilities include Global Investment Management, Capital Markets & Investment Banking, and Advisory Services. To explore more, visit mesirow.com, follow us on LinkedIn, and subscribe to Spark, our quarterly newsletter.
Mesirow has repeatedly been recognized as one of the Best Places to Work in Chicago by Crain’s Chicago Business and ranks among Barron’s Top 100 RIA firms.
About Bastion Management
Bastion is a private investment firm recognized for providing innovative financing solutions to small and midsized enterprises within the alternative finance sector across North America and the UK. Over its decade-long journey, Bastion has successfully closed over 50 transactions, totaling more than $2 billion in commitments, focusing on traditional consumer lending platforms and emerging financial technology companies. They take pride in partnering with businesses that feature robust management teams and strong equity backing to support growth from the initial stage all the way to public listing.
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Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries, and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc., © 2024, Mesirow Financial Holdings, Inc. All rights reserved. Investment management services are provided through Mesirow Financial Investment Management, Inc., Mesirow Institutional Investment Management, Inc., and Mesirow Financial Private Equity Advisors, Inc., all SEC-registered investment advisors, CFTC registered commodity trading advisors, and members of the NFA, or Mesirow Financial International UK, Ltd. (“MFIUK”), authorized and regulated by the FCA, depending on the jurisdiction.
For recognition disclosures, please visit mesirow.com/award-recognition-disclosures.
As of 9.30.2024 unless otherwise noted. | 1. “Assets under supervision” encompasses regulatory assets under management, assets under advisement, and non-securities currency assets under management. For clarity: (1) regulatory assets under management (“RAUM”) is calculated per Instruction 5A of Form ADV and includes all assets of securities portfolios (both discretionary and non-discretionary). (2) Certain assets under advisement (“AUA”) may be subject to a 45-to-90-day lag for verification of assets. (3) Currency assets under management includes AUM associated with (i) active and passive currency risk management products $173.90 billion, (ii) non-fx overlay strategies such as equitization and beta overlays $908.34 million, and (iii) alpha strategies $1.63 billion. Notably, AUM for alpha strategies is adjusted as clients can select a volatility target (usually between 2% and 12% annualized), normalized to 2% for a consistent depiction of alpha strategy AUM. This results in a “scaled” AUM that may exceed the actual aggregate notional value of all alpha strategy portfolios. As of 9.30.2024, the “unscaled” AUM for alpha strategies stood at $383.56 million.
