Aristotle Capital Management
Aristotle Capital Management is a Los Angeles-based investment manager offering equity, credit, and fixed-income strategies to institutional and other investors. US asset management firm specializing in equity and fixed income investments.
Last updated October 30, 2026
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Overview
Aristotle Capital Management is an American investment management firm headquartered in Los Angeles, California. Its business spans equity, credit, and fixed-income investment strategies, and it has developed from a large-cap value-equity heritage into a broader multi-asset platform. The firm's roots lie in Metropolitan West Capital Management, a large-cap equity value manager founded in 1997 by Howard Gleicher, Gary Lisenbee, and Steve Borowski. The three had previously been principals at Palley-Needelman Asset Management. Metropolitan West Capital Management operated under Metropolitan West Financial until June 2006, when it sold a majority controlling interest to Evergreen Investments, whose parent company was Wachovia. The original founders remained involved in senior management after the transaction. The ownership environment changed again in January 2009, when Wachovia was acquired by Wells Fargo and Evergreen Investments became part of Wells Fargo Asset Management. Gleicher and Borowski left Metropolitan West Capital Management in 2010 and established Aristotle. They indicated that non-compete provisions associated with the earlier sale had expired, making the timing appropriate for a new firm. Lisenbee stayed at Metropolitan West because of what he described as a fiduciary responsibility to the existing business, and his longer non-compete period prevented him from immediately joining his former colleagues. Aristotle expanded through acquisitions and the recruitment of investment teams. In July 2011, it acquired a majority interest in Reed, Conner & Birdwell, adding a money-management business that represented approximately $1.6 billion of Aristotle's reported $5 billion in assets under management at the time. Lisenbee joined Aristotle in September 2013 after his non-compete expired. His return reunited the three principals from the firm's predecessor and supported Aristotle's institutional business development, while Gleicher continued to focus on investment responsibilities. Around this period, additional former Metropolitan West employees also moved to Aristotle. Between 2014 and 2016, Aristotle broadened its capabilities through three important additions. West Gate Horizons was acquired in January 2014 and became Aristotle Credit Partners, extending the firm into credit products. In January 2015, Aristotle acquired the small- and mid-cap strategies group of Eagle Boston Investment Management, creating Aristotle Capital Boston. In December 2016, Aristotle Atlantic Partners was launched with a team drawn from Deutsche Asset Management's U.S. equity group. The firm's transformation accelerated with its acquisition of Pacific Life's credit asset-management arm, Pacific Asset Management, announced in October 2022 and completed in 2023. The acquired operation was renamed Aristotle Pacific. The transaction increased Aristotle's assets under management by roughly 50 percent according to the referenced account and materially strengthened its credit capabilities. Whereas Aristotle had historically been identified primarily with equity investing, the transaction positioned it as a more diversified multi-asset manager. Aristotle's client base has included institutional investors, which accounted for approximately 80 percent of assets in the period discussed in the firm's development history. Its business model emphasizes specialized investment teams operating within a shared investment-management organization. The firm's principal offerings include equity strategies across market-capitalization segments, credit strategies, and fixed-income capabilities. Current detailed ownership, executive, website, assets-under-management, and financial information is not established by the supplied reference material. Aristotle Capital Management is an asset management firm headquartered in Los Angeles, providing equity and fixed income investment strategies to institutional clients. The firm is known for its fundamental research and long-term investment approach. The firm's transformation accelerated with the October 2022 announcement and 2023 completion of the acquisition of Pacific Life's credit asset-management business, Pacific Asset Management. The acquired business was renamed Aristotle Pacific. According to the referenced account, the transaction increased Aristotle's assets under management by approximately 50 percent and significantly strengthened its credit capabilities. Although Aristotle was historically associated mainly with equities, the deal positioned it as a more diversified multi-asset manager. Aristotle's client base includes institutional investors, who represented approximately 80 percent of assets over the firm's history. Its business model emphasizes operating specialist investment teams within a shared investment-management organization. Its main products include equity strategies across market-cap segments, credit strategies, and fixed-income capabilities. Current detailed ownership, executives, website, assets under management, and financial information are not established by the provided reference material.
History
Aristotle Capital Management emerged from the investment-management lineage of Metropolitan West Capital Management. Metropolitan West Capital Management was founded in 1997 by Howard Gleicher, Gary Lisenbee, and Steve Borowski, who had previously served as principals at Palley-Needelman Asset Management. The predecessor firm specialized in large-cap equity value investing. In June 2006, Metropolitan West Capital Management sold a majority controlling interest to Evergreen Investments, which was then owned by Wachovia. The transaction did not immediately remove the founding team: the founders continued in senior management roles. In January 2009, Wachovia was acquired by Wells Fargo, and Evergreen Investments became part of Wells Fargo Asset Management. The resulting ownership changes eventually led two of the founders to establish a new independent platform. Howard Gleicher and Steve Borowski left Metropolitan West Capital Management in 2010 and founded Aristotle Capital Management. They stated that non-compete obligations arising from the earlier sale to Evergreen had expired, allowing them to start the firm. Gary Lisenbee remained at the predecessor organization because he believed he had a fiduciary responsibility to it, and his own non-compete agreement lasted seven years. Aristotle therefore began with two of the original principals, while maintaining a close connection to the predecessor firm's investment heritage. Aristotle pursued expansion through both acquisitions and team additions. In July 2011, it purchased a majority stake in Reed, Conner & Birdwell. The money manager represented approximately $1.6 billion of Aristotle's reported $5 billion in assets under management at the time. In September 2013, Lisenbee joined Aristotle after his non-compete period ended. He described the smaller firm's structure as allowing more nimble investment decisions than was possible at the larger organization, where decisions required approval from higher levels. At that stage, institutional investors represented approximately 80 percent of Aristotle's assets, and Lisenbee was viewed as able to contribute to institutional sales while Gleicher concentrated on investments. Several other Metropolitan West employees also joined Aristotle during this period. From 2014 through 2016, Aristotle used acquisitions and team formation to broaden its product range. West Gate Horizons joined the organization in January 2014 and became Aristotle Credit Partners, creating a dedicated credit capability. In January 2015, Aristotle acquired the small- and mid-cap strategies group of Eagle Boston Investment Management and formed Aristotle Capital Boston. In December 2016, Aristotle Atlantic Partners was launched with personnel from Deutsche Asset Management's U.S. equity group. The most significant later expansion described in the reference material began in October 2022, when Aristotle agreed to acquire Pacific Life's credit asset-management arm, Pacific Asset Management. The transaction closed in 2023 and the business was renamed Aristotle Pacific. The acquisition increased Aristotle's assets under management by approximately 50 percent and shifted the firm's profile from one focused predominantly on equities toward a multi-asset investment manager with more substantial credit and fixed-income capabilities. The available reference material establishes Aristotle as a U.S.-based firm with an institutional orientation and a collection of specialist investment teams. It does not establish a current chief executive, current ownership structure, exact present-day assets under management, official website, or detailed investment-performance data. Those fields remain unconfirmed in this dossier.
- 2023
Pacific Asset Management becomes Aristotle Pacific
[1]The completed Pacific Life transaction added a major credit-management capability and broadened Aristotle's profile into multi-asset management.
- 2016
Aristotle Atlantic Partners launches
[1]A new equity affiliate was launched with a team from Deutsche Asset Management's U.S. equity group.
- 2015
Aristotle Capital Boston is formed
[1]The firm acquired Eagle Boston's small- and mid-cap strategies group and organized it as Aristotle Capital Boston.
- 2014
Aristotle Credit Partners is formed
[1]The acquisition of West Gate Horizons created a dedicated Aristotle credit business.
- 2013
Lisenbee returns to Aristotle
[1]Gary Lisenbee joined his former colleagues after his seven-year non-compete period expired.
- 2011
Reed, Conner & Birdwell joins the platform
[1]Aristotle acquired a majority stake in Reed, Conner & Birdwell, expanding its investment-management resources.
- 2010
Aristotle Capital Management is founded
[1]Howard Gleicher and Steve Borowski left Metropolitan West and established Aristotle after their non-compete obligations had expired.
- 2009
Wachovia is acquired by Wells Fargo
[1]The acquisition placed Evergreen Investments within Wells Fargo Asset Management and preceded the departure of two Metropolitan West founders.
- 2006
Metropolitan West sells a majority interest
[1]Metropolitan West Capital Management sold a majority controlling interest to Evergreen Investments, whose parent was Wachovia.
- 1997
Metropolitan West Capital Management is founded
[1]Howard Gleicher, Gary Lisenbee, and Steve Borowski founded the predecessor large-cap equity value business.
Products and positioning
A research-oriented institutional investment manager that evolved from large-cap value equity into a diversified platform spanning equity, credit, and fixed income.
Equity management · 2010
Large-cap equity strategies
The firm's heritage is in large-cap equity value investing through its Metropolitan West predecessor. These strategies formed the foundation of Aristotle's original investment platform and institutional identity.
Credit management · 2014
Aristotle Credit Partners
Created through the 2014 acquisition of West Gate Horizons, Aristotle Credit Partners expanded the organization beyond its equity base into dedicated credit products and related investment mandates.
Small- and mid-cap equity management · 2015
Aristotle Capital Boston
Aristotle Capital Boston was formed after the acquisition of Eagle Boston Investment Management's small- and mid-cap strategies group. It added differentiated smaller-company equity capabilities to the firm's broader platform.
U.S. equity management · 2016
Aristotle Atlantic Partners
Launched in 2016 with a team from Deutsche Asset Management's U.S. equity group, Aristotle Atlantic Partners expanded the firm's range of equity teams and investment approaches.
Credit and fixed-income management · 2023
Aristotle Pacific
Aristotle Pacific is the name adopted by Pacific Asset Management after its acquisition from Pacific Life was completed in 2023. Its addition strengthened Aristotle's credit and fixed-income capabilities and supported the firm's move toward a multi-asset model.
Brand decisions
2022
Agree to acquire Pacific Life's credit asset-management armM&ABackground
Aristotle sought to strengthen credit and fixed-income management and reduce its dependence on an equity-centered business mix.
Action taken
The firm announced an agreement to acquire Pacific Asset Management from Pacific Life.
Aftermath
The deal closed in 2023, the business was renamed Aristotle Pacific, and Aristotle's assets under management increased by approximately 50 percent according to the referenced account.
Increase in assets under management. Approximately 50% increase (Following completion in 2023)
2015
Acquire Eagle Boston's small- and mid-cap strategies groupM&ABackground
The transaction was intended to extend Aristotle's equity capabilities into small- and mid-cap investing.
Action taken
Aristotle acquired the relevant group from Eagle Boston Investment Management and formed Aristotle Capital Boston.
Aftermath
The firm added a dedicated small- and mid-cap equity capability.
2014
Acquire West Gate HorizonsM&ABackground
Aristotle wanted to broaden its historically equity-oriented offering with credit capabilities.
Action taken
The firm acquired West Gate Horizons and organized the business as Aristotle Credit Partners.
Aftermath
Aristotle gained a dedicated credit-products platform.
2011
Acquire a majority interest in Reed, Conner & BirdwellM&ABackground
Aristotle sought to expand its investment-management resources and asset base beyond its founding equity platform.
Action taken
The firm acquired a majority stake in Reed, Conner & Birdwell.
Aftermath
The acquired manager accounted for approximately $1.6 billion of Aristotle's reported $5 billion in assets under management at the time.
Assets under management associated with Reed, Conner & Birdwell. $1.6 billion (2011)
2010
Establish an independent investment-management firmStrategyBackground
Changes in the ownership of Metropolitan West and the expiration of relevant non-compete obligations created an opportunity for Howard Gleicher and Steve Borowski to establish a new firm.
Action taken
The two principals left Metropolitan West Capital Management and founded Aristotle Capital Management.
Aftermath
Aristotle developed as an independent platform retaining a large-cap equity value heritage before adding further investment teams and asset classes.
Recent events
- 2023
Pacific Asset Management becomes Aristotle Pacific[1]
M&A · Product launch
Following completion of the Pacific Life transaction, the acquired business was renamed Aristotle Pacific. The deal increased Aristotle's assets under management by approximately 50 percent according to the referenced account.
- 2022
Aristotle announces acquisition of Pacific Asset Management[1]
M&A
Aristotle agreed to acquire Pacific Life's credit asset-management arm, a transaction intended to substantially expand its credit and fixed-income platform.
- 2016
Aristotle launches Aristotle Atlantic Partners[1]
Product launch
Aristotle Atlantic Partners was established with a team from Deutsche Asset Management's U.S. equity group, adding another equity capability.
- 2015
Aristotle forms Aristotle Capital Boston[1]
M&A · Product generation
Aristotle acquired the small- and mid-cap strategies group of Eagle Boston Investment Management and organized it as Aristotle Capital Boston.
- 2014
Aristotle acquires West Gate Horizons[1]
M&A · Product launch
The acquisition expanded Aristotle into credit products and resulted in the formation of Aristotle Credit Partners.
- 2013
Gary Lisenbee rejoins Aristotle[1]
Leadership change
Gary Lisenbee returned to Aristotle after the expiration of his non-compete agreement, reuniting the three principals associated with Metropolitan West Capital Management and supporting Aristotle's institutional business.
- 2011
Aristotle acquires majority stake in Reed, Conner & Birdwell[1]
M&A
Aristotle acquired a majority interest in money manager Reed, Conner & Birdwell, adding a business associated with approximately $1.6 billion of Aristotle's reported $5 billion in assets under management.
Sources2 sources
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