On August 10, 2017, Flat Rock Global, LLC announced that it sold minority stakes to Western Asset Management and John Thomson of Thomson Equity.
Terms of the transaction were not disclosed. Flat Rock Global, LLC (“Flat Rock”) is an alternative asset manager that focuses on yield-driven investment strategies. Its initial fund, Flat Rock Capital Corp., is a private, business development company that makes first-lien, floating-rate loans to middle-market companies. Flat Rock offers its funds through RIA, family offices and institutional investors.
Founded in 1971, Western Asset Management is an asset manager that focuses on fixed-income strategies. Its assets under management were $429 billion as of June 30, 2017.
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