Mesirow Acquires Bastion Management to Bolster Asset-Backed Lending
Deal News | Jan 06, 2025 | Mesirow Financial Private Equi
Mesirow, an independent financial services firm, has acquired Bastion Management, a specialist in asset-backed lending. The acquisition closed on December 31, 2024, and is part of Mesirow's broader strategy to expand its alternative investment offerings. Bastion Management, founded in 2013 and based in Stamford, CT, targets the asset-backed specialty finance sector, delivering bespoke financing solutions. This acquisition enhances Mesirow's alternatives offerings alongside its existing private credit, currency management, and real estate investment capabilities. With headquarters in Chicago, Mesirow serves both institutional investors and high net-worth clients. Moving forward, Bastion will operate within Mesirow Global Investment Management and will spearhead the firm’s private credit initiatives. The acquisition emphasizes Mesirow's commitment to growing its best-in-class suite of financial products, aiming to better serve its clients globally. Legal and financial guidance were provided by DLA and Berkshire Global Advisors, while Latham Watkins served as Bastion's legal advisors.
Sectors
- Financial Services
- Private Credit
- Investment Management
Geography
- United States – Mesirow is headquartered in Chicago, and Bastion is based in Stamford, CT, both in the United States.
- United Kingdom – Bastion also operates in the UK, making this geography relevant to the article.
Industry
- Financial Services – This classification is relevant because the article discusses Mesirow, a financial services firm, acquiring Bastion, a private credit manager.
- Private Credit – Bastion Management operates in the asset-backed specialty finance space, focusing on private credit solutions.
- Investment Management – Mesirow Global Investment Management expands through the acquisition, adding to its alternatives capabilities.
Financials
- $2 billion – Total commitments by Bastion over 13 years in more than 50 transactions.
- $302.6 billion – Total assets under supervision by Mesirow as of September 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mesirow Financial Holdings, Inc. | Acquiring Company | Company | An independent, employee-owned financial services firm, expanding its alternative investments capabilities. |
| Bastion Management | Target Company | Company | An asset-backed specialty finance lender focusing on private credit and alternative finance solutions. |
| Berkshire Global Advisors | Financial Advisor to Bastion | Company | Provided financial advisory services to Bastion in the acquisition. |
| DLA Piper | Legal Advisor to Mesirow | Company | Provided legal advisory services to Mesirow during the acquisition. |
| Latham & Watkins LLP | Legal Advisor to Bastion | Company | Provided legal advisory services to Bastion in the transaction. |
| Natalie Brown | CEO, Mesirow | Person | CEO of Mesirow, overseeing the strategic acquisition of Bastion. |
| Jay Braden | CEO, Bastion | Person | CEO of Bastion, now part of Mesirow Company following the acquisition. |
| Ketan Shah | Chief Strategy Officer and General Counsel, Mesirow | Person | Involved in the strategic planning of Mesirow's expansion. |