Lonsec sold to Financial Research Holdings
Lonsec Limited has been purchased by a group substantially led by private equity specialist, Mark Carnegie and superannuation ratings house, SuperRatings.
Zurich announced the sale of Lonsec to Financial Research Holdings (FRH) today and shortly afterwards SuperRatings announced its intention to consolidate its business into FRH which it said was backed by interests associated with M.H. Carnegie and Company.
FRH describes itself as a privately owned and independent group that brings together the market leading brands of Lonsec Limited and SuperRatings Pty Ltd.
Described as a spokesman for the new Lonsec owner, Mark Carnegie said the acquisition represented the first part of a growth strategy to build Australia’s pre-eminent financial services research and execution firm.
FRH managing director Jason Clarke said he expected little change for clients and staff of Lonsec.
“Lonsec has a number of excellent strategies awaiting implementation,” he said. “So while we hope to enhance services for clients over time, we expect little interruption to the business during the transition period.”
SuperRatings was established less than 10 years ago and is the research house referenced in the Industry Super Network’s “compare the pair” advertising campaigns.
More recently, it has branched out into involvements in the delivery of online advice and tender consulting and analysis for superannuation funds.
AUTHOR
Mike Taylor
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