WAM Capital buys unlisted investment firm
WAM Capital Limited, which is managed by Wilson Asset Management (WAM), has acquired all the issued capital of an unlisted investment company with net assets of approximately $25.5 million.
The firm said the transaction would benefit existing WAM Capital shareholders and would help increase the size of the investment portfolio in a cost-effective manner.
Also, the company’s board said it was looking forward to engaging in similar transactions in the future.
Under the terms of the deal, consideration for the acquisition would be 13,246,376 new WAM Capital shares, with the number of WAM Capital shares calculated by reference to the relative net tangible asset backing of each company.
AUTHOR
Oksana Patron
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
