Polen Capital to buy boutique high-yield asset manager DDJ Capital

Asset manager Polen Capital Management Inc. has boosted its presence in the high-yield market with a takeover of privately owned boutique manager DDJ Capital Management LLC.

Based in Waltham, Mass., DDJ manages over $8.2 billion of high-yield bond and loan strategies for corporate and public retirement funds, insurance companies, endowments, foundations and family offices. Polen plans to install the DDJ team as a fourth autonomous investment unit under the leadership of DDJ President and Chief Investment Officer David Breazzano, who will join Polen's operating committee.

"The acquisition of DDJ follows a thoughtful and deliberate process to evaluate distinctive high value-added capabilities that will meet client demand for income," Polen CEO Stan Moss said in a statement today. "Polen and DDJ are extremely complementary, share core investment beliefs, and have compatible cultures that will contribute to a stronger, more durable, and more sustainable firm."

Polen has over $80 billion of AUM across a trio of growth portfolios managed by its Boca Raton, Fla.-based Large Company Growth team, Boston-based Small Company Growth team, and London-based Emerging Markets Growth team.

The transaction will see Polen buy 100% of DDJ stock and is expected to close late in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions.