Aristotle Capital Management LLC has completed the acquisition of Pacific Asset Management LLC from Pacific Life Insurance Co., a deal initially announced in October 2022.

Pacific Asset Management is now rebranded as Aristotle Pacific Capital LLC and currently manages more than $20 billion in assets. The newly named firm will continue to be led by CEO Dominic Nolan and maintain its current investment team, according to the firm.

Aristotle Capital also announced the reorganization of Pacific Life’s publicly offered mutual fund complex, which will be part of Aristotle Funds following approval by Pacific Life shareholders. Newly formed Aristotle Investment Services LLC will serve as the advisor and administrator to the new Aristotle Funds.

The acquisition and reorganization efforts add more than 50 professionals and about $22 billion in new assets to the Aristotle organization, according to the Los-Angeles-based firm. Aristotle and its affiliates, including Aristotle Pacific, now have more than $77 billion in assets under management.

“The completion of this initiative is a significant step in Aristotle’s client-centric strategy, expanding our credit offerings and enabling us to offer a broader range of investment solutions to our clients,” said Richard S. Hollander, Chairman of Aristotle.

Pacific Life will have a minority stake in Aristotle and continue to expand its strategic partnership with Aristotle Pacific and Aristotle Funds.