Resolute Investment Managers Announces Investment in National Investment Services
IRVING, Texas--(BUSINESS WIRE)--Nov 6, 2019--
Resolute Investment Managers, Inc. (“Resolute”), a diversified, multi-affiliate asset management platform with more than 40 affiliated and independent relationships, announced today an agreement to acquire a majority interest in National Investment Services (“NIS”), a leading asset manager specializing 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,” Gene Needles, chairman and CEO of Resolute, said. “Bob 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,” Bob Brooks, CEO of NIS, said. “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.
About Resolute Investment Managers
Resolute Investment Managers is a diversified, multi-affiliate asset management platform with affiliated and independent relationships with more than 40 investment managers. Driven by future value creation, 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. With roots as an unaffiliated sub-advised mutual fund sponsor, the majority of Resolute’s partnerships are with asset managers who invest and operate with full autonomy and independence. As of September 30, 2019, the affiliated companies of Resolute Investment Managers had $75.1 billion in assets under management. For more information, visit resolutemanagers.com.
About National Investment Services
National Investment Services manages predominantly fixed-income strategies designed with the objective to provide consistent performance and downside protection. NIS has served this mission for more than 25 years by partnering with clients and consultants on their unique objectives using an agile investment process. NIS puts client needs first through employee ownership and a collaborative, team-oriented culture. NIS regained independence as a privately held, employee-owned firm in 2014 after a brief period as part of a publicly traded company. Since reinvesting in the business, NIS has consistently achieved its new asset-growth goals. The firm has offices in Milwaukee, Chicago and Sarasota. As of September 30, 2019, NIS had $8.6 billion in assets under management. For more information visit nisi.net.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191106005618/en/
CONTACT: Reed Schneider
Water & Wall Group
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE
SOURCE: Resolute Investment Managers, Inc.
Copyright Business Wire 2019.
PUB: 11/06/2019 11:00 AM/DISC: 11/06/2019 11:01 AM