American Beacon Advisors, a leading provider of investment advisory services to institutional and retail markets, has been acquired by funds affiliated with private equity firms Kelso & Company and Estancia Capital Management. Terms of the agreement have not been disclosed.
"We are excited to begin the next phase of our growth story with Kelso and Estancia as our strategic partners," says Gene L Needles, Jr, President and Chief Executive Officer of American Beacon. "I want to thank TPG Capital and Pharos Capital Group for their support and guidance over the years. I also want to thank all the individuals involved in making this a seamless process for our clients, shareholders and employees."
"We are delighted to partner with Gene and his team," says Chris Collins, Managing Director of Kelso & Company. "American Beacon has established itself as a premier asset management platform, and we look forward to supporting the company in its next phase of growth."
"The American Beacon team has built an exceptional investment management firm by partnering with the 'best of the best' institutional asset managers globally and creating well-designed, differentiated investment strategies that have delivered outstanding long-term performance to the firm's clients. We fully support the company's business approach and continuation of their strategy," says Takashi Moriuchi, Partner and Managing Director of Estancia Capital Management.