Mesirow Financial to Acquire Fiduciary Management Associates, LLC
CHICAGO, IL, February 4, 2016 – Mesirow Financial today announced it has entered into a definitive agreement to acquire Fiduciary Management Associates, LLC (FMA), an independent employee-owned investment management firm based in Chicago. FMA manages separate account portfolios for a global client base that includes public funds, corporate funds, Taft-Hartley funds, charitable organizations, and police and fire pension funds.
FMA’s management and its entire investment team will join Mesirow Financial. Combined with its existing equity business, Mesirow Financial Equity Management will have total equity assets of approximately $2 billion focused on small cap value and smid cap value strategies. The new business will be led by Kathryn Vorisek, managing partner of FMA since 2002.
Richard Price, chairman and CEO of Mesirow Financial, said, “This transaction is an indication of our commitment to institutional equity investment management. The team at FMA has a proven track record of strong investment performance and we are delighted to welcome them to Mesirow Financial.”
Kathryn Vorisek said, “Joining the Mesirow Financial organization, with its culture of excellence, significant resources, large client base and geographic reach enhances our ability to better serve our clients and grow our business.” She added that FMA will benefit from the distribution and infrastructure of Mesirow Financial, a premier employee-owned institutional asset manager with $31 billion in assets under management in traditional and alternative strategies and an additional $66 billion in currency risk assets.
Mesirow Financial Equity Management will report to Michael Markowitz who heads traditional asset management. He stated, “We have been impressed for some time by FMA’s investment performance, stable team and premier institutional client base. The combination of our businesses offers many exciting opportunities for the future.”
The transaction is expected to close on March 31, 2016. Terms were not disclosed. Colchester Partners acted as financial advisor to FMA while Mesirow Financial Investment Banking advised Mesirow Financial in connection with this transaction.
Fiduciary Management Associates, LLC (FMA) is an independent, employee-owned investment management firm based in Chicago with approximately $1.7 billion in assets under management. FMA manages institutional small cap value and smid cap value separate account portfolios for a client base that includes public funds, Taft Hartley funds, corporate and not-for-profit clients. Learn more at fmausa.com.
About Mesirow Financial
Mesirow Financial is a specialist investment, risk management and advisory firm based in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees and a global client base. For more information about Mesirow Financial, visit mesirowfinancial.com.