BT's Ascalon expands boutique stable
Ascalon Capital Managers will acquire a 30 per cent stake in Regal Funds Management as part of a new partnership agreement between the two companies.
The two groups announced the signing of the formal agreement today, which will see them work together.
Regal is a Sydney-based alternatives equities manager with approximately $350 million under management, specialising in fundamental-based market-neutral, long/short and absolute return strategies, as well as Asian quantitative strategies.
Andrew King, managing director of Regal, said the company was delighted with the agreement and saw it as an important step for future growth.
“We have partnered with Ascalon as we believe they will provide a range of capabilities that will help us grow further and believe there is a strong cultural fit with the management team at Ascalon,” he said.
Ascalon is part of BT Financial Group and invests in boutique funds management firms. Ascalon also provides fund and operational capital to its partners with a view to further commercialising them.
It now has equity in seven distinct investment management firms across alternatives, Australian and international equities.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
