Treasury Group takes stake in private equity breakaway
Boutique fund manager Treasury Group has taken a 15 per cent equity stake in the former Macquarie Group private equity funds management business now known as ROC Equity Partners.
ROC was formed in mid-March of this year when the three fund managers of the former Macquarie Investment Management Private Markets purchased the business for an undisclosed figure. At the time of sale the business had $5 billion in assets under management.
Treasury Group will also provide a five-year working capital facility which can be drawn down by ROC at its discretion, with Treasury Group committing a total of $4.5 million from its internally available working capital to ROC.
Treasury Group chief executive and managing director Andrew McGill, who is expected to join the ROC board, said ROC management had been known to Treasury Group for many years.
Treasury Group stated it would also provide services to ROC in the areas of risk, compliance, accounting and operation support.
Recommended for you
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
Perpetual has confirmed it has entered into an exclusivity agreement with a US private equity firm to progress discussions regarding the sale of its wealth management division.
Paradice Investment Management has become the latest fund manager to launch an active ETF version of its managed fund, placing greater emphasis on retail distribution.
