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Pacific Funds are now Aristotle Funds

Aristotle Capital Management announces the reorganization of certain funds of Pacific Funds

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April 17, 2023

Aristotle Capital Management, LLC (“Aristotle”) today announced it has completed the acquisition of Pacific Asset Management LLC, a leader in liquid credit investments, from Pacific Life Insurance Company (“Pacific Life”). Pacific Asset Management has officially been rebranded to Aristotle Pacific Capital, LLC (“Aristotle Pacific”) and currently manages over $20 billion in assets.

Aristotle Pacific will maintain its investment team and will continue to be led by Dominic Nolan, CFA, Chief Executive Officer, ensuring continuity of investment management expertise and nurturing the trusted connections they have built servicing their clients.

In addition, Aristotle further announces the reorganization of certain funds of Pacific Funds, Pacific Life’s publicly offered mutual fund complex, into new Aristotle Funds, following approval by shareholders of such certain Pacific Funds.  A newly formed Aristotle affiliate, Aristotle Investment Services, LLC, will serve as the Advisor and Administrator to the new Aristotle Funds.

The acquisition and reorganization efforts combined add over 50 professionals and approximately $22 billion in new assets to the Aristotle organization and broaden Aristotle’s suite of investment offerings to help clients reach their long-term financial goals. Aristotle and its affiliates, including Aristotle Pacific, now have more than $77 billion in assets under management.1

“The completion of this initiative is a significant step in Aristotle’s client-centric strategy, expanding our credit offerings and enabling us to offer a broader range of investment solutions to our clients,” said Richard S. Hollander, Chairman of Aristotle. “Our teams have proven throughout this process that they are client-focused and culturally aligned. We look forward to providing new opportunities to continue to meet our clients’ needs.”

Pacific Life will have a minority stake in Aristotle and continue to expand its strategic partnership with Aristotle Pacific and Aristotle Funds. Additional terms of the agreement were not disclosed.

“It has been a pleasure working with Aristotle to close this transaction. We look forward to the continued success of our existing team and the opportunities that will come with our combined efforts,” said Dominic Nolan, CFA, Chief Executive Officer of Aristotle Pacific. “We are thankful for our time with Pacific Life and excited to be joining the Aristotle family.”

“I am incredibly proud of what our team has been able to accomplish in such a short-timeframe, including the complexities of creating new Aristotle Funds and organizing a new affiliate to serve as an advisor and administrator, while continuing to serve our clients at the highest level,” said Richard Schweitzer, CFA, Chief Financial Officer and Chief Operating Officer of Aristotle. “It speaks to the quality of our infrastructure, the caliber of our people and our entrepreneurial spirit. We look forward to working together to deliver the best possible outcomes to our clients.”

RBC Capital Markets acted as exclusive financial advisor, Stradley Ronon Stevens & Young, LLP and Goodwin Procter LLP served as legal advisors to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP were legal counsel to Aristotle for the transaction.

1As of 4/14/2023, the transaction’s total assets under management includes: approximately $20.7 billion in assets managed by Aristotle Pacific, and $9.3 billion of mutual fund assets that were reorganized from Pacific Funds into new Aristotle Funds. Aristotle Pacific’s AUM of $20.7 billion includes assets of certain reorganized funds that are sub-advised by Aristotle Pacific.

Assets under management for Aristotle Capital Management, LLC $49.4 billion; Aristotle Capital Boston, LLC $3.3 billion; Aristotle Credit Partners, LLC $0.7 billion; and Aristotle Atlantic Partners, LLC $1.6 billion are as of 3/31/2023. Each firm is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended.

Any performance data quoted represent past performance, which does not guarantee future results.

The views expressed are as of the publication date and are presented for informational purposes only. These views should not be considered as investment advice, an endorsement of any security, mutual fund, sector or index, or to predict performance of any investment or market. Any forward-looking statements are not guaranteed. All material is compiled from sources believed to be reliable, but accuracy cannot be guaranteed. The opinions expressed herein are subject to change without notice as market and other conditions warrant.

Investors should consider a fund's investment goal, risks, charges, and expenses carefully before investing. The prospectuses contain this and other information about the funds. The prospectuses and/or summary prospectuses should be read carefully before investing.

Investing involves risk. Principal loss is possible.

Foreside Financial Services, LLC, distributor.

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