MGP commences capital raising roadshow
Managed Accounts Holdings Limited (MGP) is supporting the $34 million capital raising required to for the full purchase of platform and administration solutions provider Linear Financial Holdings, by conducting a national roadshow.
The financial services firm has appointed Shaw and Partners and Evans and Partners as joint lead managers for the roadshow project, as well as Veritas Securities as a co-lead for the management of raising.
MGP chairman Don Sharp said the merged entity of the firm with Linear Financial Holdings would result in funds under advice exceeding $11 billion.
“[It] will create significant operating scale and extend our suite of products and services for the independent financial advisory market,” he said.
“The proposal has the unanimous support of the Linear board.”
AUTHOR
Hope William-Smith
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
