4/22/2016 Company News

Tortoise Credit Strategies Announces Tortoise-supported Management Buy-out of Bradford & Marzec


LEAWOOD, Kan. – April 22, 2016 – Tortoise Credit Strategies, LLC, part of the Tortoise Investments family, has announced the acquisition of Bradford & Marzec, LLC along with key Bradford & Marzec employees through a Tortoise-supported management buy-out. Bradford & Marzec is a specialized fixed income boutique with approximately $4.3 billion in assets under management and a 32 year track record in fixed income investing.

Tortoise Credit Strategies, a registered investment adviser focused on fixed income strategies, is led by Brad Beman, a seasoned leader with nearly three decades of investment management experience across the credit spectrum. Brad previously served in a variety of roles covering domestic and global fixed income, asset allocation, alternatives and derivatives within the AEGON Asset Management family, most recently as Global Chief Investment Officer and as a member of the global asset management board.

“Bradford & Marzec brings an impressive record of performance, a disciplined team-based investment process and an experienced team that will provide Tortoise Credit with a strong foundation for the future,” said Beman, Chief Executive Officer and Chief Investment Officer of Tortoise Credit Strategies. “We are pleased to partner with the Bradford & Marzec team and continue the legacy of its rich heritage of institutional-caliber investment management.”

“The addition of Bradford & Marzec to Tortoise Credit builds upon the Tortoise family‘s deep history in income and energy investing,” said Michelle Kelly, Tortoise Managing Director. “It also provides opportunities to add strategic value to our clients by broadening our suite of investment solutions and enhancing our research capabilities in the diverse credit market. We are thrilled to have a veteran fixed income investor like Brad at the helm, whose previous leadership delivered both solid performance and asset growth.”

The transaction is expected to be completed by the end of the second quarter of 2016 following satisfaction of customary closing conditions. Bradford & Marzec also issued a press release today announcing the pending acquisition and management buy-out which can be read here.

About Tortoise Investments

Through its family of companies including Tortoise Capital Advisors, Tortoise Index Solutions and Tortoise Credit Strategies, Tortoise Investments provides investors access to differentiated active and passive investment solutions and market insights. Tortoise‘s business is rooted in more than a decade of leadership and expertise in both income and equity investing in energy and essential assets. Over time, Tortoise has enhanced and expanded its innovative product offerings, while staying true to its quality approach and focus. Tortoise Investments, through its family of registered investment advisers, had $13.1 billion assets under advisement as of March 31, 2016. Tortoise Investments is indirectly majority owned by Mariner Holdings, LLC, which had approximately $31 billion in assets across wealth and asset management as of Feb. 29, 2016.

About Tortoise Credit Strategies

Tortoise Credit is a registered investment adviser focused on fixed income-related strategies. The firm was built on an investment process that emphasizes top-down macro views, business fundamentals, bottom-up credit analysis as well as a disciplined focus on managing risk.

About Bradford & Marzec

Bradford & Marzec, LLC is a Los Angeles-based investment adviser that specializes in the management of long-only domestic and global fixed income portfolios for institutional and high net worth investors. Founded in 1984 with a 32 year track record, the firm‘s team-based investment philosophy is deeply rooted in an investment decision process refined over many economic and financial cycles. The firm had approximately $4.3 billion in assets under management as of March 31, 2016.

Contact Information

Zito Partners
Deborah Kostroun deborah@zitopartners.com (201) 403 8185