Aristotle Expands Credit Offerings with Acquisition of Pacific Asset Management from Pacific Life

Announces Planned Name of Aristotle Pacific Capital, LLC

LOS ANGELES & NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Aristotle Capital Management, LLC (“Aristotle”), an investment management organization that specializes in equity and fixed income portfolio management for institutional and advisory clients worldwide, and Pacific Life Insurance Company (“Pacific Life”), a leading mutual life insurance company, today jointly announced Aristotle’s planned acquisition of Pacific Life’s third-party credit asset management firm, Pacific Asset Management, LLC (“PAM”), whose clients include Pacific Funds. As part of the transaction, Pacific Life will receive a minority interest in Aristotle. Aristotle also announced that subsequent to the close of the transaction, Pacific Asset Management will be known as Aristotle Pacific Capital, LLC (“Aristotle Pacific”).

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“We are pleased to welcome the PAM team to the Aristotle family,” said Richard S. Hollander, Chairman of Aristotle. “We have a proven history of identifying the right partners, who share our client-focused investment approach. In all our discussions with the PAM team, we have found their culture and principles to be complementary to ours. We look forward to joining forces to continue to meet our clients’ needs.”

The transaction represents $20.7 billion in assets under management and over 50 professionals, including 23 investment team members, to Aristotle.

“Aristotle’s investment management mindset, entrepreneurial culture and robust infrastructure will strengthen our business as we continue to deliver for our clients,” said Dominic Nolan, CFA, Chief Executive Officer of PAM. “I am thankful for where we have come from and couldn’t be happier about where we are going.”

The acquisition fits into Aristotle’s strategy to thoughtfully expand product offerings and identify investment talent as well as to broaden Aristotle’s fixed income business. The transaction will bring together two complementary businesses and includes an ongoing strategic partnership between Pacific Life and Aristotle.

“We are excited to partner with Aristotle through this transaction,” said Adrian Griggs, Executive Vice President and Chief Operating Officer of Pacific Life. “Due to the complementary nature of our businesses, we believe this enhances growth opportunities for PAM, Aristotle and Pacific Life’s retail distribution group.”

Following the close of the transaction, PAM will operate as Aristotle Pacific led by Dominic Nolan, CFA as Chief Executive Officer. PAM will maintain its investment approach, business focus and client service while being better positioned to achieve additional scale and have access to broader distribution with Aristotle. Aristotle will evaluate capitalizing on opportunities between Aristotle Pacific and affiliate Aristotle Credit Partners (“Aristotle Credit”) to deliver credit and fixed income solutions to their clients. Aristotle Credit will benefit from the addition of fixed income professionals joining the Aristotle family.

The transaction is expected to close during the first half of 2023. Terms of the agreement were not disclosed. Closing is subject to customary approvals, conditions and concepts.

RBC Capital Markets is acting as exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP are legal counsel to Aristotle for the transaction.

About Aristotle

Aristotle’s mission is to help clients reach their long-term financial goals with active portfolio management using our research-driven investment framework. Aristotle is a family of four independent registered investment advisors each with their own investment team all supported by one mid-back office shared services platform, with offices in Los Angeles, Newport Beach, Boston and Sarasota. Our investment teams specialize in equities and fixed income strategies. All Aristotle affiliates are PRI Signatories. Aristotle is backed by an experienced leadership team that has worked together for over 25 years. Portfolio Managers average 28 years of investment experience. Please visit www.aristotlecap.com for more information.

About Pacific Life

For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities and mutual funds, and offers a variety of investment products and services to individuals, businesses and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients* and has been named one of the 2022 World’s Most Ethical Companies^® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.

*Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 30, 2022 is compiled by Pacific Life using the 2022 FORTUNE 500^® list.

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Tricia Ross
c/o Aristotle

Phone: 310.622.8226

tross@finprofiles.com

Pacific Life
Steve Chesterman
AVP, External Communications

Phone: 949.219.3243

schesterman@pacificlife.com

Source: Aristotle