BT's Ascalon expands boutique stable
Ascalon Capital Managers will acquire a 30 per cent stake in Regal Funds Management as part of a new partnership agreement between the two companies.
The two groups announced the signing of the formal agreement today, which will see them work together.
Regal is a Sydney-based alternatives equities manager with approximately $350 million under management, specialising in fundamental-based market-neutral, long/short and absolute return strategies, as well as Asian quantitative strategies.
Andrew King, managing director of Regal, said the company was delighted with the agreement and saw it as an important step for future growth.
“We have partnered with Ascalon as we believe they will provide a range of capabilities that will help us grow further and believe there is a strong cultural fit with the management team at Ascalon,” he said.
Ascalon is part of BT Financial Group and invests in boutique funds management firms. Ascalon also provides fund and operational capital to its partners with a view to further commercialising them.
It now has equity in seven distinct investment management firms across alternatives, Australian and international equities.
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
