Tortoise Credit Strategies, LLC, part of the Tortoise Investments family, recently acquired Bradford & Marzec, LLC along with key Bradford & Marzec employees through a Tortoise-supported management buy-out.

Key highlights

  • Key employees and firm management collectively own approximately 37%, with the remainder owned by Tortoise Investments
  • Founders Ted Bradford and Zelda Marzec exited their equity positions and remain employees to ensure a smooth transition
  • Bradford & Marzec’s team-based investment decision process, utilized for 32 years through numerous business and economic cycles, and the core investment team remain the same
  • The transaction closed on June 20, 2016

Perspectives

“Bradford & Marzec brings an impressive record of performance, a disciplined team-based investment process and an experienced team that will provide Tortoise Credit with a strong foundation for the future. We are pleased to partner with the Bradford & Marzec team and continue the legacy of its rich heritage of institutional-caliber investment management.”

Brad Beman, CFA
Chief Executive Officer and
Chief Investment Officer

“The addition of Bradford & Marzec to Tortoise Credit builds upon the Tortoise family’s deep history in income and energy investing. It also provides opportunities to add strategic value to our clients by broadening our suite of investment solutions and enhancing our research capabilities in the diverse credit market. We are thrilled to have a veteran fixed income investor like Brad at the helm, whose previous leadership delivered both solid performance and asset growth.”

Michelle R. Kelly, CFA
Managing Director
Tortoise Capital Advisors

“The two firms share a fundamentals-based investment philosophy and a dedication to providing clients with institutional-caliber fixed income investment management services. Our team is very enthusiastic about this strategic combination that brings together the success and consistency of the Bradford & Marzec track record, with a sound partner to support and grow the business.”

Zelda Marzec
Founder 
Bradford & Marzec

“This is an exciting development for our company and we firmly believe that Tortoise Credit is the right partner for Bradford & Marzec, our clients and our employees. We believe this transaction serves the best interest of our clients in the long term while facilitating a smooth management succession. It also provides significant alignment of interests through consistency and substantial employee ownership.”

Edward T. Bradford
Founder
Bradford & Marzec