Treasury Group completes Northern Lights merger
Boutique funds management organisation, Treasury Group, has completed its merger with US-based Northern Lights Capital Group as previously announced.
In an announcement to the Australian Securities Exchange (ASX) Treasury Group revealed that all approvals required for the transaction to proceed and other conditions had been satisfied, allowing the merger to be completed yesterday.
The new merger trust is owned 61.22 per cent by Treasury Group and 38.78 per cent by Northern Lights, and it holds interests in the portfolio of boutiques which collectively have approximately $50 billion of funds under management as of 30 September.
Following the completion of the merger, Treasury Group said that "focus and attention has now turned to integration of management and operations and the achievement of initial cross-selling, investment and other short-term goals".
Treasury Group also revealed that US$47 million of debt was drawn down by a subsidiary of the merger trust to fund simultaneous completion transactions to acquire additional interests in Seizert Capital Partners and Aether Investment Partners.
AUTHOR
Nicholas O'Donoghue
Recommended for you
Schroders has appointed a new chief executive as Simon Doyle steps down from the asset manager after 22 years.
Distribution of private credit funds through advised channels to retail investors will be an ASIC priority for 2026 as it releases the results of its thematic fund surveillance and guidance for research houses.
State Street Investment Management has taken a minority stake in private market secondaries manager Coller Capital with the pair set to collaborate on broaden each firm’s reach and drive innovation.
BlackRock Australia plans to launch a Bitcoin ETF later this month, wrapping the firm’s US-listed version which is US$85 billion in size.
