Resolute Investment Managers Announces Recapitalization to Strengthen Capital Structure

IRVING, Texas--(BUSINESS WIRE)--Resolute Investment Managers, Inc. (“Resolute” or the “Company”), a diversified, multi-affiliate asset management platform with more than 30 affiliated and independent relationships, today announced that it has entered into a definitive agreement with all of its lender groups, including its first-lien and second-lien debtholders, and its equity sponsors regarding a recapitalization transaction that will address upcoming debt maturities and strengthen the Company’s capital structure.

The transaction agreement provides that Resolute’s first-lien lenders will exchange existing debt for new debt and equity. Holders of second-lien debt will receive new equity in exchange for their existing debt. The Company’s revolving credit facility will be extended through 2027.

“Today’s announcement of a comprehensive recapitalization of Resolute’s capital structure is an important milestone that puts our firm on stronger financial footing for the future as we remain focused on providing our clients with innovative and differentiated investment solutions,” said Jeffrey K. Ringdahl, President and CEO of Resolute. “We look forward to partnering with our new investors who are fully supportive of our business strategy and continued evolution into a diversified investment solutions provider.”

The Company intends to complete the transaction by year-end 2023, subject to the satisfaction of customary closing conditions including the consent of investment advisory and investment company clients of Resolute and its affiliates. No changes to the day-to-day management, operations, or personnel of Resolute and its affiliates are anticipated.

About Resolute Investment Managers

Resolute Investment Managers, Inc. is a diversified, multi-affiliate asset management platform with affiliated and independent relationships with more than 30 investment managers. Driven by future value creation, Resolute offers a unique platform that delivers strategic benefits through a full suite of distribution, operational and administrative services that may be leveraged by its affiliates. With roots as an unaffiliated sub-advised mutual fund sponsor, the majority of Resolute’s partnerships are with asset managers who invest and operate with full autonomy and independence. As of June 30, 2023, the affiliated companies of Resolute had $79.6 billion in assets under management. For more information, please visit www.resolutemanagers.com.