ING buys stake in Oasis Asset Management
By Larissa Tuohy
PACIFIC Equity Partners (PEP) has sold its 76 per cent stake in platform provider Oasis Asset Management to ING Australia.
Oasis will continue to operate as a stand-alone business, with members of the management team at Oasis retaining their own individual equity stakes in the company.
Now valued at $72 million, Oasis offers super and non-super wrap products, direct share services and margin lending.
PEP managing director Tim Sims said he was confident the company would continue its growth and success.
“Partnering with Oasis Asset Management has been a great experience for the PEP team and a positive result for our investors,” he said.
“I have no doubt that Oasis will continue to thrive with the support of ING, a well-respected player in the local wealth management industry.”
Oasis managing director Wayne Lowe said: “Having grown rapidly since inception six years ago, ING’s financial strength and support will enable existing management to further develop the platform and enhance our alignment with key dealer groups and advisers to ensure the growth path continues.”
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