Mesirow Expands Horizons: Acquires Bastion Management to Boost Alternatives!

"We are delighted to welcome Bastion to the Mesirow family!" — Natalie Brown Spread the Word Established in 2013 and flourishing in Stamford, CT, Bastion is not just any private credit manager; it’s a powerhouse in the asset-backed specialty finance arena. This dynamic firm specializes in lending to the lower middle market across various sectors and regions, crafting personalized financing solutions that promise impressive returns without compromising on security. Over the past 13 years, Bastion has executed more than 50 transactions, amassing over $2 billion in commitments, thanks to a discerning clientele that includes endowments, institutional investors, family offices, and high-net-worth individuals. "We are thrilled to have Bastion join our team at Mesirow as we expand our alternatives portfolio in the asset-backed lending domain," stated Natalie Brown, CEO of Mesirow. "The impressive culture and operations that Bastion has established align harmoniously with our values, and we believe they will play a vital role in Mesirow's continued growth and success." "Joining Mesirow is an exhilarating step for us," said Jay Braden, CEO of Bastion. "Mesirow's independent, employee-owned structure combined with its client-centric focus perfectly matches our philosophy. Their robust distribution capabilities will propel our growth while allowing us to keep delivering outstanding service to our clients. We take pride in our past successes and eagerly look forward to the vast opportunities this partnership will create as we enhance our lending platform." "As Mesirow forges ahead with its growth strategy—aimed at integrating best-in-class products to serve our clients better—Bastion’s compelling returns and exceptional client service in a lucrative market make them an outstanding addition to our platform," noted Ketan Shah, Chief Strategy Officer and General Counsel at Mesirow. Mesirow is committed to enhancing its existing alternative investment capabilities, including Mesirow Currency Management, Mesirow Private Equity, and Mesirow Institutional Real Estate Direct Investments, alongside our wealth management, fiduciary services, and comprehensive capital markets solutions. As of September 30, 2024, Mesirow has an impressive $302.6B in assets under supervision. For further details, explore mesirow.com. About MesirowMesirow is a distinguished, employee-owned financial services firm, established in 1937. With headquarters in Chicago and a global presence, we pride ourselves on a personal, tailored approach to helping clients achieve their financial aspirations while contributing positively to society. Our diverse capabilities span Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, focusing on what truly matters: our clients, communities, and culture. Discover more at mesirow.com, connect with us on LinkedIn, and subscribe to Spark, our quarterly newsletter. Mesirow has consistently been recognized as one of the Best Places to Work in Chicago by Crain's Chicago Business and features among Barron’s Top 100 RIA firms. About Bastion ManagementBastion is a dynamic private investment firm dedicated to providing innovative financing solutions for small and mid-sized businesses in the alternative finance sector throughout North America and the UK. With over a decade of experience, Bastion has successfully closed more than 50 transactions, totaling over $2 billion in commitments, supporting traditional consumer lending platforms and emerging financial technology companies. They have built a strong track record of collaboration with organizations boasting robust management teams and committed equity backing from initial growth stages to public listings. Media Inquiries[email protected] Michael Herley | 203.308.1409 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 provided through Mesirow Financial Investment Management, Inc., Mesirow Institutional Investment Management, Inc., and Mesirow Financial Private Equity Advisors, Inc., all SEC-registered investment advisors, a CFTC-registered commodity trading advisor, and member of the NFA, or Mesirow Financial International UK, Ltd. ("MFIUK"), authorized and regulated by the FCA, depending on the jurisdiction. Award recognition disclosures: mesirow.com/award-recognition-disclosures As of 9.30.2024 unless otherwise noted. | 1. "Assets under supervision" include regulatory assets under management; assets under advisement; and non-securities currency assets under management. For these purposes: (1) regulatory assets under management ("RAUM") is calculated in accordance with Instruction 5A of Form ADV and includes all assets of securities portfolios (both discretionary and non-discretionary). (2) Some assets under advisement ("AUA") are on a 45-to-90-day lag due to the time needed to confirm away assets. (3) Currency assets under management include 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. In all cases, AUM is calculated based on the notional value of currency investments. Additionally, AUM for alpha strategies is adjusted because clients can select a volatility target (generally between 2% and 12% annualized), normalized to 2% to create a consistent depiction of alpha strategy AUM. This results in a "scaled" AUM that is higher than the actual aggregate notional value of all alpha strategy portfolios if clients have selected a volatility target higher than 2%. As of 9.30.2024, the "unscaled" AUM for alpha strategies was $383.56 million. SOURCE: Mesirow Financial Holdings, Inc.