Pinnacle hits the streets
Ian Macoun
A new Sydney-based boutique funds management group called Pinnacle Investment Management has been established by Wilson HTM Investment Group (Wilson HTM) and will be headed up by former Perennial chief executive Ian Macoun.
“I am delighted to join an organisation which shares my vision and passion for the boutique fund management industry,” Pinnacle chair and managing director Macoun said.
He went on to describe the inception of the new boutique as a “meeting of minds”.
Pinnacle will initially consist of two boutiques, Hyperion Asset Management, which is led by Dr Manny Pohl and manages $1.3 billion, and Plato Investment Management, a new quantitative funds boutique that will be headed by Plato’s newly appointed managing director Dr Don Hamson.
Both sides are confident the new entity has the potential to be Australia’s top multi-boutique funds management group.
“The Pinnacle structure was developed with the infrastructure required to house a number of boutique fund managers and is the cornerstone of a wider strategy to build a ‘house of boutiques’ funds management business,” Steve Wilson, executive chairman, Wilson HTM said.
He said Pinnacle would be in a good position to capitalise on the growth he predicted in the Australian funds management industry.
Pinnacle is majority owned by Wilson HTM with the rest of the equity belonging to its owners and managers.
Although Wilson HTM is the majority shareholder, Pinnacle will have substantial autonomy and its own board. However, Wilson HTM will provide contracted infrastructure such as compliance and human resources support.
As a holding company, Pinnacle will have equity stakes in each of the boutiques operating within its umbrella with the rest of the equity residing with each of the relevant owners and managers.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
