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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 of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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