GQG Partners sees FUM pass US$150bn

GQG Partners gqg private markets M&A

7 June 2024
| By Laura Dew |
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GQG Partners saw funds under management (FUM) pass US$150 billion, up by 5.6 per cent over the past month. 

In its latest monthly update to the ASX, the fund manager said it has seen US$9.1 billion ($13.6 billion) in inflows since the start of the year.

FUM in May was up from US$142 billion at the end of April, although it had seen a 0.9 per cent decline during that month from $143.4 billion.

The milestone comes just under a year after it passed US$100 billion for the first time at the end of June 2023.

Breaking it down by asset class, the largest FUM rises this month were seen in the US equity and global equity divisions which rose by 7.7 per cent and 7.4 per cent respectively. 

US equity rose from US$11.6 billion to US$12.5 billion, while global equity rose from US$35 billion to US$37.6 billion.

In smaller rises, international equity rose 5.5 per cent from US$55.8 billion to US$58.9 billion, and emerging markets equity rose from US$39.6 billion to US$41.1 billion, an increase of 3.7 per cent. 

During the month, the firm completed the acquisition of the minority interests in Avante Capital Partners, Proterra Investment Partners, and Cordillera Investment Partners for an aggregate cash consideration of US$71.2 million. 

These will be the foundational investment in the firm’s new GQG Private Capital Solutions (PCS) division and operate separately from its global equities business.

PCS will be focused on providing a broad range of financing and strategic solutions to mid-market private capital asset management firms, including perpetual equity investments, structured financings, and distribution services across institutional and retail markets.

GQG chief executive, Tim Carver, said: “This transaction accelerates GQG’s aim to launch a private capital investment advisory business. Avante, Cordillera and Proterra are excellent examples of the types of firms and people we will seek to partner with on behalf of our PCS clients.”

GQG is one of several fund managers that are targeting the private capital market as investors seek out alternative investments. As well as GQG, HMC Capital and Regal Partners have both made their own acquisitions in the space of Payton Capital and Merricks Capital, while property fund manager Centuria Capital has increased its stake in real estate finance division Centuria Bass. 

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