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.
AUTHOR
Staff Writer
Recommended for you
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
