Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Challenger to sell Whitehelm stake to European player

Fidante/infrastructure/

14 September 2021
| By Laura Dew |
image
image image
expand image

Challenger has entered into agreement to sell its 30% equity stake in infrastructure boutique, Whitehelm Capital to Patrizia.

Whitehelm, which was part of Fidante Partners, was established in 2014 following the merger of Challenger’s and Access Capital Advisers’ respective infrastructure businesses and was 70% owned by Whitehelp employees and 30% by Challenger.

Meanwhile, Patrizia was a listed real asset manager headquartered in Germany and had €48 billion ($76 billion) in funds under management.

Challenger’s sale consideration would be paid in cash and was expected to be completed in the first quarter of 2022 while Fidante would provide administration and distribution services for up to two years post completion.

Nick Hamilton, chief executive, funds management at Fidante, said: “While it is not our strategy to sell our interest in boutique partners, Patrizia’s offer provided a unique and compelling opportunity for Challenger to deliver value for shareholders.

“Fidante Partners has a healthy pipeline of potential strategic opportunities and we will continue to invest to support its growth.”

Graham Matthews, chief executive of Whitehelm, said: “We are really excited about partnering with Patrizia. They represent a perfect cultural and strategic fit and will enable us to expand our client reach especially in Europe, providing access to their extensive client base”.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week 1 day ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 4 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 4 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND