Post Advisory Group Seeks Buyer

Reporting: Dayna Fields, Hugh Minch Post Advisory Group is pursuing talks with potential buyers via an internally led sale process, according to three sources familiar with the matter. The Los Angeles-based asset manager specializes in high-yield and senior loans. It is backed by Principal Asset Management, which owns roughly 80% of the firm, two sources said. Japan-based Nippon Life Insurance Co. is a minority stakeholder. Founded in 1992, Post Advisory has about $16 billion of assets under management, according to its website. The firm’s team consists of eight portfolio managers and five analysts. The firm’s chief investment officer is Jeffrey Stroll. The firm is internally valued at about $125 million, the first two sources said. Because the business is heavily tied to its parent company, however, there is uncertainty around the value of the asset in the event of a sale, the two sources said. An expected valuation could be in the range of $25 million to $50 million, they noted. Still, a bid of about $25 million was recently rejected by the seller, said the two sources. Potential suitors could be attracted to Post Advisory Group’s growing CLO business, sources noted. Post Advisory manages $2.3 billion in its CLO strategy, which it launched[...]