UK-based fund manager Henderson Global Investors has acquired a 33 per cent stake in specialist Australian natural resources investment management firm 90 West Asset Management.
The transaction was announced today, with Henderson saying that in addition to acquiring its equity position the two companies had entered into an exclusive global distribution agreement.
90 West Asset Management was founded in 2008 by Clive Landale, who was joined in mid-2011 by the head of global resources at Colonial First State, David Whitten.
Commenting on the arrangement, Henderson Australia chief executive Andrew Formica said it represented the first transaction following the Henderson Board giving approval of a strategic plan for the development of an Australian business for Henderson.
"It confirms the strategic intention to build a strong Australian business through the distribution of relevant existing investment capabilities and by building new, contemporary capabilities locally that have global utility," he said.
