Resolute Investment Managers (Resolute), a diversified, multi-affiliate asset management platform with more than 40 affiliated and independent relationships, is to acquire a majority interest in National Investment Services (NIS), an asset manager specialising in fixed-income strategies.
With offices in Milwaukee, Chicago and Sarasota, NIS focuses on differentiated, taxable fixed-income strategies that seek to provide institutional investors with consistent performance and downside protection. NIS offers a wide variety of investment strategies, including traditional and alternative fixed-income options and dynamic fixed-income offerings tailored to meet a client’s investment objective or desired level of risk.
“NIS has established itself as a fixed-income leader delivering outstanding investment results and providing a high level of client service,” says Gene Needles (pictured), chairman and CEO of Resolute. “Bob [Brooks] and his team have built a strong and successful business, and we’re thrilled to provide the support and resources they need to reach their next level of growth.”
“This is an ideal time for us to reinvest in the facets of our business that ensure stability and additional resources for our clients,” says Bob Brooks, CEO of NIS. “We are also excited to partner with Resolute to focus on product expansion through new distribution channels and continued growth of the business.”
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 was advised by Skadden, Arps, Slate, Meagher & Flom LLP. NIS was advised by Berkshire Global Advisors and Foley & Lardner LLP.