Bastion Management II

Bastion does not publicly disclose its fund structures. Based on its investment strategy, the firm is expected to hold loans to maturity rather than distribute or syndicate them — a balance-sheet approach that differentiates it from broadly syndicated loan managers and publicly traded BDCs. The actual fund format (closed-end commingled fund, separately managed accounts, or proprietary capital) is not publicly confirmed.

Bastion has not made the names of its principals, founders, or investment committee members publicly available as of the most recent review. This level of opacity is unusual but not unique among small, closely held credit managers. Absent public filings or regulatory registrations that name control persons, the firm's governance and decision-making architecture remains private.