Challenger buys stake in Kapstream
Kumar Palghat
Challenger has taken a 25 per cent stake in Kapstream Capital, a global fixed interest boutique scheduled for launch next year by former Pimco co-head Kumar Palghat.
In addition to its cornerstone investment, Challenger will provide Kapstream with administration services and have sole global distribution rights.
The boutique will primarily focus on securing institutional mandates, but will also offer a fund for the platform and retail market.
It will operate “outside the space traditionally dominated by fixed interest and hedge funds by providing target returns for clients more tailored to their future liability stream”, Palghat said.
“A key differentiator will be our ability to tailor to individual client needs and deliver stable income and alpha generation.”
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
