IM Global Partner, a global asset management network, has lauded Polen Capital Management’s acquisition of a boutique high yield manager, with iM’s international clients set to benefit from Polen’s new credit platform.
The deal, which saw Polen snap up DDJ Capital Management – a firm specialising in high yield and leveraged credit investments – was initially agreed on 7 December 2021 and completed on 1 February this year. It marks Polen’s first venture into the high-yield market.
Philippe Couvrecelle, founder and chief executive of IM Global Partner, which teamed up with DDJ in June 2020 to manage the iMGP US High Yield Ucits fund, said: “We are very pleased to see a company of the quality of DDJ join forces with Polen, our partner since 2015. Our international clients will be able to benefit from all the synergies this acquisition offers.”
IM Global Partner said that the acquisition furthers Polen Capital’s “objective of delivering superior active returns to preserve and grow clients’ assets with offerings that meet the increased demand for sustainable income”.
Stan Moss, CEO of Polen Capital, said: “Acquiring a differentiated high-yield credit capability furthers Polen’s mission to preserve and grow client assets to protect their present and enable their future. DDJ’s high-yield capabilities will enable us to meet increasing client demand for sustainable income solutions.”
As of 31 December 2021, DDJ – headquartered in Waltham, Massachusetts – managed $8.3 billion in assets across a range of investment strategies.
David Breazzano, president and chief investment officer at DDJ, added: “This transaction will enable us to continue our focus on delivering the strong investment results and high-quality service our clients want with the support and added resources of Polen Capital’s successful organisation.”
In addition to Polen Capital, iM Global Partner’s existing partners include Zadig Asset Management, Richard Bernstein Advisors, Scharf Investments and Dynamic Beta Investments.
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