Mercury Capital acquires 40% stake in Findex from KKR

KKR Findex Group private equity financial advice

11 April 2024
| By Laura Dew |
image
image
expand image

Wealth management and advisory firm Findex has announced an investment partnership with private equity firm Mercury Capital.

The deal will see Mercury Capital acquire a 40 per cent stake that is currently held by alternative asset manager KKR. It will allow Findex to enhance its wealth accounting model for private and SME clients, provide additional investment capital, and appoint new representatives to the Findex board.  

The transaction will make Mercury Capital and Findex staff and executives the majority owners of Findex’s platform.

Established in 2010, Mercury Capital is a Sydney-based private equity firm managing over $2 billion in funds. It seeks to invest in businesses that are leaders in their industry, possess high-quality management teams, have well-developed and scalable systems, and demonstrate the potential to achieve rapid and sustained growth.

With 2,500 staff members across 100 offices in Australia and New Zealand, Findex said the move will help it progress towards its target of tripling the business size over the next five years. Mercury will focus on building the Findex team and invest further in technology to help grow business to Findex’s target markets.

Mercury Capital founder and chief executive, Clark Perkins, said: “Findex’s strong growth profile, management capabilities, deep digital investment and low-risk salaried adviser model, which brings accountants and financial planners together, under one roof, creates an exciting opportunity for enhanced, market-leading service provision. It positions Findex to continue to significantly expand its business across Australia and New Zealand.”

Spiro Paule, Findex founder and managing director, said: “This exciting new relationship with Mercury Capital demonstrates that Findex is comfortable with and adept to partnering with smart capital to better enable Findex to further expand and enhance our best-in-class financial services to a vast demographic of business and private clients which are typically underserved, particularly in regional areas.

“With our focus firmly on customer value and transparency over more than 30 years, Findex’s model of combining best practice wealth management advice with accounting services via the one skilled multidisciplinary firm is undoubtedly leading the charge in the industry and saving businesses and the people in them significant time and money. This has never been more critical as cost, skills shortages, and supply chain and disruption issues mount.”  

Read more about:

AUTHOR

Add new comment

The content of this field is kept private and will not be shown publicly.
 

Recommended for you

 

MARKET INSIGHTS

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

Bradley

Dear CEO and board, It's time to start some VERY HEAVY LOBBYING on behalf of advisers which could save your platform re...

15 hours 38 minutes ago
JOHN GILLIES

He is every thing ASIC said he was BUT How on earth did he expect to get away with it????? . these guy's who dip in...

17 hours 51 minutes ago
Chris Cornish

A tad optimistic from Morningstar. Adviser numbers are somewhat irrelevant; it all comes down to the platform and whethe...

18 hours 57 minutes ago

A former financial adviser has been banned by ASIC from providing financial services for inappropriate advice, among multiple breaches....

1 week 1 day ago

Treasurer Jim Chalmers has handed down his third budget, outlining the government’s macroeconomic forecasts and changes to superannuation....

2 weeks 2 days ago

Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend....

2 weeks 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND