Nick Basile
Financial services group Ascalon Capital Managers has acquired a majority stake in funds management product distribution firm The Private Collection.
Ascalon chief Nick Basile said The Private Collection is well positioned to support fund managers wanting to distribute via intermediaries to the retail, mezzanine and institutional markets in Australia.
“This investment has dual merit for Ascalon.
“It provides Ascalon’s boutique fund managers with the opportunity for promotion and distribution beyond the core institutional channel,” he said.
“The logic is very compelling for facilitating access for Ascalon’s stable of boutique asset managers to [The Private Collection’s] extensive relationships in the financial planning distribution channel,” Basile said.
In a statement made today, Ascalon said the deal would provide retail and institutional markets with better access to quality boutique asset managers and funds.
