CEO Jeff Ringdahl left the firm on May 1, 2024. His departure was unexpected and comes just two years after he replaced his predecessor, who also left suddenly. Until a permanent CEO is found, current head of product management and corporate development Rebecca Harris (a 30-year firm veteran) will be interim CEO.
The leadership change came shortly after American Beacon finalized another significant corporate reorganization. The first occurred in 2015 when private equity majority owners Kelso & Company reorganized the firm under parent company Resolute Investment Managers, a multiaffiliate brand created by Kelso and American Beacon. In late 2023, unable to meet upcoming debt maturities, Resolute completed a debt-for-equity deal that left its creditors (mostly collateralized loan obligation and private debt fund managers) as the firm’s new owners: about 30 in total and none owning at least 10% of the firm.
American Beacon is among the few shops where subadvisors manage the entire fund lineup, which so far has insulated it from disruption amid these changes, though long-term performance across its funds is mixed. The firm also manages institutional accounts. Overall, considerable uncertainty around American Beacon’s leadership and ownership warrant caution.