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Direct Investment  + Financial Advisory  + M&As  |  January 8, 2025
Mesirow Acquires Asset-Backed Lender to Expand Alts Capabilities 
Joe Palmisano
By: Joe Palmisano

Mesirow Acquires Asset-Backed Lender to Expand Alts Capabilities 

Mesirow, a Chicago-based financial services firm, has acquired Bastion Management, a Stamford, CT-based asset-backed specialty finance lender, in a move that strengthens its alternative investment offerings.  

Financial terms of the deal, which closed on December 31, 2024, were not disclosed. 

Bastion Management, established in 2013, offers financial solutions to the lower middle market across multiple sectors. The firm has executed over 50 transactions with commitments above $2 billion since its establishment, catering to endowments, institutional investors, and family offices. 

“We are pleased to welcome Bastion to Mesirow as we extend our alternatives offering in the asset-backed lending space,” said Mesirow CEO Natalie Brown. She underscored the cultural alignment between the two companies and expressed confidence in Bastion’s prospective impact on Mesirow’s growth trajectory. 

Bastion CEO Jay Braden emphasized the advantages of collaborating with an independent, employee-owned company that holds similar principles. “Mesirow’s robust distribution platform will enable us to accelerate our growth while continuing to deliver exceptional service to our clients,” Braden said.  

Mesirow, founded in 1937, manages $302.6 billion in total assets under supervision as of September 30, 2024. The firm maintains its commitment to other alternative investment capabilities, including currency management, private equity, and institutional real estate direct investments, alongside its wealth management, fiduciary services and capital markets operations. 

DLA Piper served as legal advisors to Mesirow in the transaction, while Berkshire Global Advisors acted as financial advisor to Bastion and Latham & Watkins provided legal counsel. 

In September, Mesirow Wealth Management, the wealth division of Mesirow, announced the acquisition of Price Wealth Management, a Stuart, FL-based registered investment advisor for high-net-worth individuals and families.  

Pictured: Natalie Brown, CEO, Mesirow 

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Mesirow Bastion Management

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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