Aristotle Capital Management has completed the acquisition of Pacific Asset Management from Pacific Life Insurance Company, rebranding it to Aristotle Pacific Capital.
The rebranded Aristotle Pacific will maintain its investment team and will continue to be led by Dominic Nolan, CFA, CEO. Aristotle explains that this will ensure the continuity of investment management expertise and nurture the trusted connections that have been built.
Meanwhile, Aristotle has also announced the reorganisation of certain funds of Pacific Funds, Pacific Life’s publicly offered mutual fund complex, into new Aristotle Funds, following approval by shareholders of such certain Pacific Funds.
A newly formed Aristotle affiliate, Aristotle Investment Services, will serve as the Advisor and Administrator to the new Aristotle Funds.
The firm suggests that the acquisition and reorganisation efforts combined add over 50 professionals and approximately $22 billion in new assets to its organisation.
Aristotle, alongside its affiliates, now boasts more than $77 billion in assets under management.
Richard S. Hollander, Chairman of Aristotle, commented, “The completion of this initiative is a significant step in Aristotle’s client-centric strategy, expanding our credit offerings and enabling us to offer a broader range of investment solutions to our clients.
“Our teams have proven throughout this process that they are client-focused and culturally aligned. We look forward to providing new opportunities to continue to meet our client’s needs.”
Dominic Nolan, CFA, Chief Executive Officer of Aristotle Pacific, said, “It has been a pleasure working with Aristotle to close this transaction.
“We look forward to the continued success of our existing team and the opportunities that will come with our combined efforts. We are thankful for our time with Pacific Life and excited to be joining the Aristotle family.”
Richard Schweitzer, CFA, CFO and COO of Aristotle, added, “I am incredibly proud of what our team has been able to accomplish in such a short-time frame, including the complexities of creating new Aristotle Funds and organizing a new affiliate to serve as an advisor and administrator, while continuing to serve our clients at the highest level.
“It speaks to the quality of our infrastructure, the caliber of our people and our entrepreneurial spirit. We look forward to working together to deliver the best possible outcomes to our clients.”
RBC Capital Markets acted as the exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP and Goodwin Procter LLP served as legal advisors to Pacific Life.
Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP were legal counsel to Aristotle for the transaction.
