Tortoise Credit Strategies has acquired Bradford & Marzec via a Tortoise-supported management buy-out. Bradford & Marzec is a specialised fixed income boutique with approximately USD4.3 billion in assets under management.
Tortoise Credit Strategies, a registered investment adviser focused on fixed income strategies, is led by Brad Beman, a seasoned leader with nearly three decades of investment management experience across the credit spectrum. Beman previously served in a variety of roles covering domestic and global fixed income, asset allocation, alternatives and derivatives within the AEGON Asset Management family, most recently as Global Chief Investment Officer and as a member of the global asset management board.
“Bradford & Marzec brings an impressive record of performance, a disciplined team-based investment process and an experienced team that will provide Tortoise Credit with a strong foundation for the future,” says Beman, Chief Executive Officer and Chief Investment Officer of Tortoise Credit Strategies. “We are pleased to partner with the Bradford & Marzec team and continue the legacy of its rich heritage of institutional-caliber investment management.”
“The addition of Bradford & Marzec to Tortoise Credit builds upon the Tortoise family’s deep history in income and energy investing,” says Michelle Kelly, Tortoise Managing Director. “It also provides opportunities to add strategic value to our clients by broadening our suite of investment solutions and enhancing our research capabilities in the diverse credit market. We are thrilled to have a veteran fixed income investor like Brad at the helm, whose previous leadership delivered both solid performance and asset growth.”
The transaction is expected to be completed by the end of the second quarter of 2016 following satisfaction of customary closing conditions.
