MutualFundWire.com: New Year, New Owners For a $75B-AUM Firm

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Wednesday, January 3, 2024

New Year, New Owners For a $75B-AUM Firm

The team at a 198-employee, $75.4-billion-AUM (as of September 30), Lone Star State, multi-boutique asset manager is kicking off the new year with new owners, as expected.

Jeffrey Karl "Jeff" Ringdahl
Resolute Investment Managers / American Beacon Advisors
President, CEO

Yesterday, Jeff Ringdahl, president and CEO of Resolute Investment Managers, Inc., confirmed that the Irving, Texas-based firm has finalized its planned "comprehensive recapitalization." Ringdahl does not identify the American Beacon creditors who are now its owners; the team refers to the new owners as "a consortium of investment funds affiliated with leading financial institutions." The deal closed last Friday, December 29.

Resolute was previously owned by two private equity firms, Estancia and Kelso. Neither firm has any remaining stake in Resolute, a spokesperson for the asset manager confirms.

"Resolute is now on stronger financial footing and our team is eager to capture the many opportunities ahead to provide our clients with exceptional service and diversified investment solutions," Ringdahl states, adding that Resolute's stakeholders' support "has been instrumental throughout this process."

Resolute's planned recap was first unveiled last July.

Resolute's boutique subsidiaries include: American Beacon [profile], National Investment Services, RSW Investments, Shapiro Capital Management, and SSI Investment Management. The rest of Resolute's 30-plus boutique affiliates are independent.

Printed from: MFWire.com/story.asp?s=66877

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