Mesirow Financial reported a 29% jump in assets under management to $32.2 billion for the fiscal year ended March 31.
Hedge fund strategies, private equity and insurance services were the largest contributors to the increase. In a news release, Chairman and CEO James C. Tyree attributed the performance to the firms diversified business model, which provides insulation from market pressure.
Revenues for the company were $492 million for the fiscal year, a 9% increase from the previous fiscal year. Revenues from the investment management division were $258 million for the 12-month period, up from $208 million.
For the quarter ended June 30, revenues were $156 million, 43% higher than the year-earlier quarter.