NabInvest buys stake in Lodestar Capital
NabInvest has bought a 33 per cent stake in boutique fund manager Lodestar Capital Partners.
The remaining stake will remain in the hands of Lodestar’s investment management team.
Lodestar co-founder and director, John Morgan, said Lodestar was excited to partner with nabInvest and the move would allow it to strengthen their association with each other.
There were excellent opportunities for Lodestar in the current market, as investors were looking to absolute return products for protection from market volatility, Morgan added.
Investment director Nick Basile said NabInvest knew Lodestar well and had a high level of confidence in its business.
Lodestar and NAB have worked together since 2007.
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