Mesirow Expands Alternative Investment Offerings with Bastion Management Acquisition

Mesirow Enhances Its Asset-Backed Lending Capabilities with Bastion Management Acquisition

In a significant move, Mesirow, an independent and employee-owned financial services firm based in Chicago, has successfully acquired Bastion Management, a leading provider of asset-backed specialty finance. This acquisition, which was finalized on December 31, 2024, marks a critical milestone in Mesirow’s strategic plan to expand its alternative investment capabilities.

Bastion Management, established in 2013 and headquartered in Stamford, Connecticut, specializes in private credit management within the asset-backed specialty finance sector. It primarily serves the lower middle market, providing tailored financing solutions that prioritize attractive returns while ensuring notable downside protection. Over the past 13 years, Bastion has executed more than 50 transactions with total commitments exceeding $2 billion, catering to a prominent investor base that includes endowments, institutional investors, family offices, and high net worth individuals.

Natalie Brown, CEO of Mesirow, expressed her enthusiasm regarding the acquisition, stating, "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."

Jay Braden, the CEO of Bastion, also shared his excitement about the new partnership: "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."

Mesirow’s Chief Strategy Officer, Ketan Shah, highlighted Bastion's strong returns and dedication to client servicing as key factors that make the firm an excellent fit within Mesirow’s platform. The integration of Bastion is expected to bolster Mesirow’s existing alternatives capabilities, which already include Mesirow Currency Management, Mesirow Private Equity, and Mesirow Institutional Real Estate Direct Investments.

This strategic acquisition reflects Mesirow’s commitment to enhancing its offerings and providing superior service to institutional investors and high net worth clients. With a total of $302.6 billion in assets under supervision as of September 30, 2024, Mesirow aims to leverage Bastion's expertise to further solidify its position in the competitive landscape of alternative investments.

As Mesirow moves forward, the focus not only remains on the newly integrated capabilities but also on maintaining its existing high-level services across wealth management, fiduciary services, and capital markets. This holistic approach aims to provide comprehensive financial solutions to clients while acting as a force for positive social impact.

In summary, the acquisition of Bastion Management by Mesirow is a promising development in the financial services sector, showcasing Mesirow’s strategic growth goals and commitment to enhancing its asset-backed lending capabilities within the alternative investments arena.