Asset Management Finance made a passive minority investment in boutique credit strategies manager Brigade Capital Management, AMF announced Wednesday.
Don Morgan, managing partner at Brigade Capital, said in an AMF news release that the additional capital provided by the investment will help the firm fulfill “certain strategic initiatives.”
Founded in 2007, Brigade Capital has $7.9 billion in assets under management in four credit strategies, including long/short and long-only offerings.
John McAvoy, AMF president, couldn’t immediately be reached for further comment. Reached by telephone, Pat Kelly, Brigade Capital’s president and COO, declined to provide further details on AMF’s stake in the firm.
AMF was founded in 2003 to help money management boutiques finance needs ranging from succession plans to expanding product lineups while maintaining their operational independence. AMF makes permanent passive investments as well as providing capital in return for a time-limited share of a money manager’s revenues.