Mesirow has acquired flexPATH Strategies for an undisclosed amount. The transaction brings the Aliso Viejo, California-based retirement investment specialist under Mesirow’s ownership, expanding the Chicago-based financial services firm’s footprint in the defined contribution plan market.
flexPATH Strategies, founded in 2015, provides target date funds, 401(k) and retirement plan solutions, and 3(38) fiduciary services. The firm manages over $83 billion in assets as of March 31, 2024, and is known for its multiple-glidepath target date fund offerings. Its open-architecture investment process combines quantitative screening through the RPAG Scorecard System, used by more than 3,000 retirement-focused financial professionals, with qualitative oversight from an investment committee that includes four CFA charter holders and two CPFA professionals.
For Mesirow, the acquisition adds a dedicated target date fund manager with a substantial asset base and a specialized fiduciary platform. Mesirow, which operates across investment management, capital markets, and insurance advisory services, gains direct access to flexPATH’s retirement plan expertise and its collective investment trust capabilities. The deal aligns with Mesirow’s broader strategy to deepen its presence in the retirement services sector, where plan sponsors increasingly seek outsourced fiduciary support and customized glidepath designs.
The combined entity is expected to leverage flexPATH’s research-driven approach within Mesirow’s existing distribution channels, potentially broadening the reach of flexPATH’s strategies to a wider set of plan sponsors and financial intermediaries. Mesirow will also inherit flexPATH’s partnerships with investment managers and its proprietary evaluation framework, which could enhance its ability to serve clients seeking index and active strategies within target date structures.
Post-transaction, flexPATH will operate under Mesirow’s ownership, with its leadership and investment team expected to remain in place to preserve continuity for clients. The deal positions the combined firm to compete more directly in the target date fund segment, where scale and fiduciary credibility are key differentiators.