Tyndall picks up alternative assets
Tyndall AM will add alternative asset classes to its existing investment classes after picking up Causeway Asset Management, which will transition to Tyndall in June.
Tyndall invests in Australian and international equities, fixed income and multi-manager investments.
Causeway will bring experience investing in private debt through senior secured commercial loans to small- and -mid-market borrowers, and in tangible assets such as Australian water entitlements.
Co-founder of Causeway Mike Davis joined Tyndall as managing director in April, replacing Craig Hobart after the company merged with Japanese fund manager Nikko Asset Management.
Five Causeway investment professionals will also make the move, while Davis counterpart and Causeway co-founder Tim Martin will lead the group as head of alternative assets.
The new team will manage comingled and separate Causeway-branded account mandates under the Tyndall umbrella.
Davis said the merger was a natural step in growing the strength and resources of both businesses and would broaden Causeway's product exposure to the Asian region through Nikko AM.
"Causeway's alternate asset approach provides a focus on income from asset classes which have low correlation to public markets, thus adding another dimension to Tyndall's capabilities," he said.
Davis said Tyndall now had the capabilities to service the current needs of investors and growing retiree markets in Australasia and Japan.
Recommended for you
Platinum Asset Management has provided an update on the possibility of a merger with asset manager L1 Capital following a period of due diligence.
Commentators may be forecasting consolidation in private market firms but a survey of the industry itself expects new manager formation will still outpace this, especially in Asia Pacific.
Fund manager Pacific Current has appointed a former superannuation chief executive as its newest chair, succeeding Tony Robinson who departs after almost a decade to focus on his role at COG Financial.
The possibility of a private credit ETF is looking unlikely for now with US vehicles seeing limited uptake, according to commentators, but fixed income alternatives exist that can provide investors with a similar return.
