Regal Partners completes PM Capital acquisition

Regal Partners Limited PM Capital mergers and acquisitions

22 December 2023
| By Jasmine Siljic |
expand image

Regal Partners has reached completion in its acquisition of PM Capital first announced last month.

On 3 November 2023, PM Capital agreed to an acquisition by Regal Partners for an upfront consideration of $20 million.

Following the completed acquisition on 21 December, the final consideration was slightly higher at $22.2 million in cash after an adjustment for net debt and working capital and a conditional consideration of $130 million of converting redeemable preference shares.

In addition to the PM Capital acquisition, Regal Partners also acquired 50 per cent of Taurus Funds Management as first announced on 1 November. These two deals brought Regal’s combined funds under management (FUM) to $10.8 billion.

Established in 1998, PM Capital works with Australian retail investors and financial advisory groups and manages over $2.7 billion in FUM across three strategies.

Regal previously said the deal will bring a multi-award-winning investment capability, well-diversified investor base, scale benefits and access to enhanced corporate, operational and distribution platform and a strong alignment of interest.

“The addition of PM Capital to the Regal Partners group will provide a further extension to Regal’s existing global equities and credit investment capabilities,” said Regal Partners chief executive, Brendan O’Connor, when the deal was first announced.

“We are delighted that Paul Moore and his team have chosen to partner with Regal and we look forward to meaningfully contributing to the growth of their business over the years ahead.”

PM Capital chairman and chief investment officer, Paul Moore, explained the deal will enable him to focus primarily on investing.

“This new partnership will facilitate our ability to leverage Regal’s exceptional corporate and business support infrastructure and distribution capabilities that have been developed under their leadership of CEO Brendan O’Connor,” Moore said.

On 30 October, Regal confirmed media speculation at the time that it was discussing a potential transaction with PM Capital.

“These discussions are significantly progressed, however they remain incomplete and no agreement has been reached as at the date and time of this announcement,” the ASX statement said. 


Read more about:


Add new comment

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

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry



It is fascinating to see that this year - 2 funds (Mine Super & CFS FirstChoice Employer Super) which failed APRA Perfor...

2 days 14 hours ago
Mitch VB

Thanks for providing us even more work in educating clients on the growth/ defensive splits of all these "top" performer...

2 days 14 hours ago

Why would you do that for? It would be a case of the same circus, different clowns....

2 days 20 hours ago

Insignia Financial has unveiled a new operating model and executive team, including a new head of advice, while three senior executives are set to depart the licensee....

1 week 2 days ago

The $280 billion Australian Retirement Trust is the first superannuation fund off the block to report its performance for the 2023-24 financial year....

2 weeks 5 days ago

Analysis by Chant West of the annual performance of growth superannuation funds has uncovered which ones see the best performance....

2 days 14 hours ago


Fund name
Ardea Diversified Bond F
144.00 3 y p.a(%)
Hills International
63.39 3 y p.a(%)