Chicago-based financial services firm Mesirow has acquired Bastion Management, a private credit manager specializing in asset-backed lending. According to InvestmentNews, the transaction, finalized on December 31, enhances Mesirow's offerings for institutional and high-net-worth clients.

With $302.6 billion in total assets under supervision, Mesirow's alternatives platform already includes currency management, private equity, and direct real estate investments. As reported by InvestmentNews, the addition of Bastion aligns with the firm's strategy to deliver diverse, client-focused investment solutions.

Mesirow's acquisition of Bastion follows other recent growth moves, including the purchase of Florida-based Price Wealth Management in September, which expanded the firm's presence in the Florida wealth market.

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