Kaplan buys 50% of Ascalon
St George has entered into an agreement with investment company Kaplan Equity whereby each party will hold a 50 per cent stake in Ascalon Capital Managers.
Ascalon was set up by St George in 2000 with the specific purpose of building a series of boutique fund managers. The organisation in which Ascalon currently holds equity includes Alleron Investment Management, MacarthurCook, Investment Management Services, First Samuel, and Hawkesbridge.
Most recently, Ascalon purchased a 37 per cent share of start up residential property investment business, Fortuna Funds Management.
Kaplan Equity was formed by Sam Kaplan in 2001 and is a part of the Kaplan Group. The group has experience in the funds management arena through the inclusion of Kaplan Funds Management within the organisation.
“We are very pleased to announce this partnership with the Kaplan Group. It represents an exciting new phase in the development of Ascalon and we are looking forward to working with the Kaplan Group to expand the Ascalon business. Our customers will continue to have access to Ascalon’s boutique asset managers via its strategic relationships with Advance and other St George companies,” St George group executive — wealth management and retail services Paul Fegan said.
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