Resolute Investment Managers Acquires Majority Share in Asset Manager National Investment Services.
11 November 2019 - Texas, US-based asset management platform Resolute Investment Managers, Inc. has agreed to acquire a majority interest in asset manager National Investment Services, the company said.
NIS specialises in fixed-income strategies
Terms of the transaction were not disclosed.
Resolute will initially provide distribution and product development support to NIS, which will operate as an autonomous subsidiary and will not see any significant changes in its day-to-day operations. Similarly, the entire staff of NIS will stay on with the firm.
The NIS transaction will mark Resolute's fourth affiliate company investment in 2019, following RSW Investments, SSI Investment Management and Green Harvest Asset Management earlier this year.
Resolute Investment Managers is a diversified, multi-affiliate asset management platform with affiliated and independent relationships with more than 40 investment managers.
Resolute offers a unique platform that delivers strategic benefits through a full suite of distribution, operational and administrative services that may be leveraged by our affiliates.
As of September 30, 2019, the affiliated companies of Resolute Investment Managers had USD 75.1bn in assets under management.
National Investment Services manages predominantly fixed-income strategies designed with the objective to provide consistent performance and downside protection.
The firm has offices in Milwaukee, Chicago and Sarasota. As of September 30, 2019, NIS had USD 8.6bn in assets under management.
Resolute was advised by Skadden, Arps, Slate, Meagher and Flom LLP. NIS was advised by Berkshire Global Advisors and Foley and Lardner LLP.
Sector: Banking/Financial Services
Target: National Investment Services
Buyer: Resolute Investment Managers
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: Skadden, Arps, Slate, Meagher and Flom , ,
Comment: Terms of the deal were not disclosed
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|Publication:||M & A Navigator|
|Date:||Nov 11, 2019|
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