Mesirow – an independent, employee-owned financial services firm – announced that it acquired Bastion Management, an asset-backed specialty finance lender. This deal closed late last month.
Launched in 2013 and based in Stamford, CT, Bastion is a private credit manager focusing on the asset-backed specialty finance space, lending to the lower middle market across sectors and geographies and creating financing solutions seeking compelling returns with robust downside protection. The firm serves a sophisticated investor base of endowments, institutional investors, family offices, and high-net-worth individuals and has completed 50+ transactions totaling over $2 billion in commitments over the past 13 years.
DLA served as legal advisors to Mesirow. Berkshire Global Advisors served as financial advisor to Bastion and Latham Watkins served as Bastion’s legal advisors. And Mesirow also remains focused on its existing set of established alternatives capabilities – Mesirow Currency Management, Mesirow Private Equity and Mesirow Institutional Real Estate Direct Investments – as well as the firm’s wealth management, fiduciary services, and capital markets/investment banking offerings.
Mesirow has $302.6 billion in total assets under supervision as of September 30, 2024.
KEY QUOTES:
“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.”
– Natalie Brown, Mesirow CEO
“We are thrilled to join Mesirow, an independent, employee-owned firm whose client-centric approach and emphasis on long-term relationships align seamlessly with our own values. Mesirow’s robust distribution platform will enable us to accelerate our growth while continuing to deliver exceptional service to our clients. 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.”
– Jay Braden, CEO of Bastion
“As Mesirow continues to execute its growth strategy, focused on adding best-in-class products to better serve our clients, Bastion’s strong returns and top-tier client servicing in an attractive market make them a great addition to the Mesirow platform.”
– Ketan Shah, Mesirow Chief Strategy Officer and General Counsel
