Bradford & Marzec Announces Management Buy-Out

April 29, 2016

On April 22, 2016, Bradford & Marzec LLC announced a management buy-out by key Bradford & Marzec LLC employees and Tortoise Credit Strategies LLC.

After the buy-out, Bradford & Marzec LLC’s (“B&M”) investment process and main investment team will be unchanged. B&M employees and management will own 37% of B&M, and Tortoise Credit Strategies LLC (“Tortoise”) will own the remainder of the company. Ted Bradford and Zelda Marzec, founders of B&M, will no longer have equity positions in the company but will remain employees.

The acquisition is expected to be completed by June 30, 2016 and is subject to customary closing conditions.

B&M is a California-based investment advisor founded in 1984. It manages long-only domestic and global fixed income portfolios for institutional and high net worth individuals.

Tortoise is a registered investment advisor.

To read the press release, please click here.


Categories

Investment Manager M&A, Transactions