Challenger and ACA to merge infrastructure operations
Challenger and Access Capital Advisers (ACA) are pooling their infrastructure investment arms to form a new boutique business.
From 1 July this year, the newly-created Whitehelm Capital will manage both of the companies’ infrastructure operations, with $4 billion under management and 48 staff in Sydney, Canberra, Singapore and London.
The scrip-based merger will see ACA’s Graham Matthews and Tom Snow each retain a 23 per cent stake, while senior staff will acquire a 24 per cent share of the new business.
Challenger’s other boutique, Fidante Partners, will hold a 30 per cent stake and will provide marketing and distribution services.
The boutique hopes to become a leader in the core infrastructure assets space, such as regulated utilities, tollroads and airports, its director-designate and Challenger executive, Phil Peters, said.
Executive recruitment firm Egon Zehnder has been brought in to find a chief executive officer for the business. In the interim, the role will be held by ACA’s Matthews.
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