Time New York: Sun 22 Jul 10:41 am  |  Save 15% on H&R Block Online


Western Asset Partners with Flat Rock Global, a New Alternative Asset Manager

Western Asset Partners with Flat Rock Global, a New Alternative Asset Manager

Flat Rock Global Focuses on Developing Yield Driven Investment Strategies

PR Newswire

NEW YORK, Aug. 10, 2017 /PRNewswire/ — Flat Rock Global, an alternative asset manager focused on developing yield driven investment strategies in sectors deemphasized by banks, announced that Western Asset, a global, fixed-income manager with $429 billion in assets under management as of June 30, 2017, has taken a minority ownership stake in Flat Rock Global. John Thomson of Thomson Equity also invested alongside Western Asset. The investment supports Flat Rock Global’s investment strategies, including their initial fund, Flat Rock Capital Corp., a business development company focused on investing in first lien, floating rate debt of middle market companies.

“We are pleased to partner with Western Asset, one of world’s premier asset managers,” said Robert K. Grunewald, CEO & Founder of Flat Rock Global. “We believe their successful track record of long-term, fundamental, value investing is consistent with our strategy.” Grunewald sees opportunity for alternative debt providers, commenting, “With banks receding from middle market lending, private lenders will benefit from demand for growth capital.”

Flat Rock Global exclusively offers its funds through registered investment advisors (RIAs), family offices and institutional investors with a single institutional style share class.

“We believe Flat Rock Global offers investors access to intriguing, yield-driven asset classes, most notably, Flat Rock Capital Corp’s focus on investing in the debt of middle market companies,” says James W. Hirschmann, CEO of Western Asset. “We find their focus on the growing middle market lending sector, with its favorable risk/return profile, an appealing investment strategy.”

About Flat Rock Global

Flat Rock Global, LLC is a diversified alternative asset manager that develops yield-driven investment strategies focused on asset classes deemphasized by the banking sector. Flat Rock Global’s initial fund, Flat Rock Capital, is a private, business development company (BDC) focused on making first lien, floating rate loans to middle market companies. To learn more about Flat Rock Global, please visit www.flatrockglobal.com.

About Western Asset Management

Founded in 1971, Western Asset Management is one of the world’s leading fixed income value investors with $429 billion in assets under management as of June 30, 2017. From offices in Pasadena, Hong Kong, London, Melbourne, New York, São Paulo, Singapore, Tokyo and Dubai, the company provides long-term, value-oriented investment services for a wide variety of global clients, across an equally wide variety of mandates. The firm is a wholly owned, independently operated subsidiary of Legg Mason, Inc. To learn more about Western Asset Management, please visit www.westernasset.com.

View original content:http://www.prnewswire.com/news-releases/western-asset-partners-with-flat-rock-global-a-new-alternative-asset-manager-300502623.html

SOURCE Flat Rock Global

<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.