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Lighthouse buys Mesirow’s multi-manager hedge fund business

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Lighthouse Investment Partners is to acquire substantially all of the assets of Mesirow Advanced Strategies (MAS) multi-manager hedge fund division.

A significant portion of the MAS team is expected to join Lighthouse as part of the transition and will continue to provide investment oversight, operational support and client service to the MAS business. This results in a broader and complementary set of resources and talent across the organisation and provides greater flexibility in constructing and executing portfolios.
“The combination of Lighthouse’s industry-leading managed account platform and strong track record, coupled with MAS’s strengths in less liquid strategies, such as credit and other lending strategies, creates what we believe is a unique offering of which our clients will benefit,” says Richard Price, Chairman and Chief Executive Officer of Mesirow Financial. “We believe this is enhanced by the strong cultural fit of our shared values, including putting client interests first, while acting with intellectual honesty, enthusiasm, accountability, collegiality and humility.”
“We have known MAS and their principals for a number of years, and have shared a mutual respect. We are excited to welcome a group of talented professionals and highly valued clients to the organisation,” says Sean McGould (pictured), President and Co-Chief Investment Officer of Lighthouse. “As a firm, Lighthouse has remained innovative, building capabilities around our managed account approach. We believe that this allows us to deliver truly differentiated alternative asset portfolios, and it has motivated our continuing evolution. This transaction is a welcomed opportunity to broaden our resources around that central mission.”
Price says: “Mesirow Financial looks forward to not only serving as a distribution partner for Lighthouse following the completion of the transaction, but to partnering together to create products within the broader Mesirow and Lighthouse structures.”
The transaction is subject to a number of customary closing conditions. Closing is targeted for mid-year. Following the expected completion of the transaction, Mesirow Financial is expected to serve as a distribution partner to Lighthouse. Financial terms of the transaction have not been disclosed.

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