Mesirow wades deeper into alternatives with Bastion Management

Mesirow wades deeper into alternatives with Bastion Management
Jay Braden, CEO of Bastion Management.
With a specialist focus in the private credit space, the Chicago-based firm's latest acquisition marks the latest expansion of its alts platform for institutional investors and high-net-worth clients.
JAN 06, 2025

Mesirow, the employee-owned financial services giant based in Chicago, has taken a significant step to expand its alternative investment capabilities for institutional and high-net-worth clients.

Through a transaction finalized on December 31, the firm with $302.6 billion in total assets under supervision has acquired Bastion Management, a private credit manager specializing in asset-backed lending.

The move builds on Mesirow's existing alternatives platform, which includes offerings in currency management, private equity and direct investments in real estate.

"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, CEO of Mesirow, said in a statement.

Founded in 2013 and headquartered in Stamford, Connecticut, Bastion focuses on lending to the lower middle market across various sectors and geographies. The firm offers bespoke financing solutions designed to provide compelling returns with downside protection for its client base of endowments, institutional investors, family offices, and high-net-worth individuals.

Over the past 13 years, Bastion has completed more than 50 transactions, representing over $2 billion in commitments.

“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,” said Jay Braden, CEO of Bastion. “Mesirow's robust distribution platform will enable us to accelerate our growth while continuing to deliver exceptional service to our clients.”

Ketan Shah, who joined Mesirow as chief strategy officer and general counsel last April, highlighted the strategic importance of the acquisition.

“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,” he said.

In September, the firm deepened its reach in the Florida wealth market by snapping up Stuart-based Price Wealth Management, adding to its previous locations in Miami and Boca Raton.

Latest News

Farther adds $120M firm with science-backed approach to wealth management
Farther adds $120M firm with science-backed approach to wealth management

The latest addition to the tech-driven firm combines wellness and finances.

Cutting back on fun: a third of Americans plan to reduce spending on vices
Cutting back on fun: a third of Americans plan to reduce spending on vices

Your clients are likely to be spending on vices, depending on their generation.

Gold continues to shine, but will jobs data change that?
Gold continues to shine, but will jobs data change that?

Traders are awaiting the latest snapshot of US economic strength.

Veritas could be about to snap up one of Wall Street’s oldest names
Veritas could be about to snap up one of Wall Street’s oldest names

Private equity firm reportedly in talks to make an acquisition.

Trump wants to scrap one of private equities' tax breaks, again
Trump wants to scrap one of private equities' tax breaks, again

Exemption enjoyed by PE and VC firms was under fire in his first term too.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.