Pinnacle buys minority stake in Omega
Pinnacle Investment Management has entered a strategic partnership with Melbourne-based boutique investment manager, Omega Global Investors.
Under the terms of the agreement, Pinnacle made a minority equity purchase in Omega but at the same time, Omega’s co-founders, Andrew Gruskin and Mathew McCrum, would retain majority ownership and control of the business, the firm said.
According to Gruskin, Pinnacle had a strong distribution team which would provide a strong boost to Omega’s market profile and penetration and help bring to market a range of products and services.
He said the new partnership would be also expected to meet investor demand for Omega’s beta strategies and portfolio solutions.
“This strategic partnership with Pinnacle brings renewed energy to our business and creates longevity for staff and clients, while continuing to deliver our most important objective of producing outstanding outcomes for our clients,” Gruskin said.
Omega was advised by Nelson Lam and Glenn Dunn of Berkshire Capital as sell-side advisers and Hall & Wilcox as legal advisers on this transaction.
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