Challenger looks to European multi-boutique play
Challenger Limited's boutique funds management division, Fidante Partners has made another key acquisition.
The company announced to the Australian Securities Exchange (ASX) today that it had agreed to acquire 100 per cent of European alternative investments group, Dexion Capital Holdings as well as a London-based distribution business.
The ASX announcement said the acquisition would substantially expand Findate Partners' European presence where it already holds interests in UK-based alternative asset managers, including global infrastructure investor Whitehelm Capital and asset-backed security specialist, WyeTree Asset Management.
Commenting on the move, Challenger's Chief Executive, Funds Management, Ian Saines said it represented a significant step-up in the company's European presence and was an important part of its international distribution and product expansion.
"Dexion Capital's funds management operation provides a scalable platform to realise our ambition of replicating Fidante Partners' successful multi-boutique model in the European market, while opening up global distribution opportunities for our existing boutique managers," he said.
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