Mesirow Expands Private Credit Capabilities with Bastion Acquisition

Mesirow Global Investment Management announced its acquisition of Stamford, CT-based asset-backed private credit manager Bastion Management in a transaction that closed on December 31, 2024.

Founded in 2013, Bastion primarily focuses on lending to lower middle-market firms across sectors and geographies, completing over 50 transactions totaling more than $2B in commitments. It counts endowments, institutional investors, family offices, and high-net-worth individuals as its primary client base. 

Mesirow said Bastion will serve as a platform for its expansion in asset-backed lending and extend its alternatives capabilities for institutional and high-net-worth investors. As of September 30, 2024, Mesirow had $302.6B in total assets under supervision.

Mesirow received legal counsel from DLA Piper. Bastion engaged Berkshire Global Advisors as its financial advisor and Latham & Watkins as legal advisor.