Chris Larson’s boutique fund manager, Ironbark Asset Management has moved to acquire Certitude Global Investments from its holding company, HFA Holdings Limited.
The acquisition, announced today, is expected to be completed by the end of Aril.
According to a statement issued by the two companies, the transaction will see Ironbark acquire 100 per cent of the issued capital of Certitude from HFA.
Certitude is the responsible entity of a number of registered managed investment schemes and the management and operation of the Certitude funds will transition to the Ironbark Group on completion of the sale.
The statement said the existing relationships with the investment managers of the Certitude funds would be maintained, which includes HFA subsidiary Lighthouse Partners, LLC (Lighthouse), Asian specialist manager GaveKal Capital Limited and USD500 billion global investment house Columbia Threadneedle Investments.
Ironbark chief executive, Chris Larsen, said the acquisition was in line with Ironbark’s strategy to maximise its footprint in the Australian asset management market.
“The Certitude business provides a particular capability in global asset management that complements Ironbark’s existing offers and fund managers. We are delighted to be acquiring a business of such strength and capability, with strong customer relationships,” he said.
Certitude chief executive, Craig Mowll said he believed the acquisition would deliver the scale opportunities to Certitude’s existing investment management suite.
HFA Holdings Chairman, Michael Shepherd, said the HFA Holdings board made the decision to sell the Certitude business after detailed consideration of its strategy and operations, after which a competitive bidding process was undertaken.
