Ducenta Squared Asset Management ("DSAM") today announced the beginning of the signing of a definitive agreement to purchase the assets of Tortoise's traditional fixed income business, Tortoise Credit Strategies ("TCS"), a leading fixed income asset manager, As of March 31, 2020, TCS had assets under management of approximately $3bn primarily related to Core, Core Plus and High Yield investment strategies. Terms of the private transaction were not disclosed.​The DSAM acquisition of TCS brings decades of experience in fixed income investing, with a disciplined investment approach rooted in fundamental credit analysis and managing risk. Longstanding members of the investment management and research teams from TCS and its predecessor, Bradford & Marzec will be joining DSAM and will continue in their existing roles. Senior professionals will receive equity stakes, aligning interests with the firm to significantly grow the business going forward.