NabInvest backs new boutique fund manager
National Australia Bank’s (NAB’s) direct investment management business, nabInvest, is backing a new boutique fund manager, Fairview Equity Partners (Fairview).
The majority of Fairview, an Australian equities small caps boutique manager, will be owned by the investment team, with nabInvest taking a significant minority stake in the company.
Fairview was established by three former members of Goldman Sachs JB Were Asset Management’s Australian equities team, Chris Adams, Michael Glenane and Leigh Cronin, and will operate as an independent business based in Melbourne.
The Fairview investment team and NAB have also contributed seed capital to create a new small cap fund, the Fairview Equity Partners Emerging Companies Fund.
Gary Mulcahy, chief executive of nabInvest, said Fairview represents an attractive investment for nabInvest, with the three principals having extensive experience in running Australian equity small cap investments.
Leigh Cronin, executive director of Fairview, said companies in the small cap space are often “under researched and inefficiently priced”.
“This has never been more apparent than in the current climate, with the market dislocation presenting many attractive investment opportunities,” Cronin said.
NabInvest will provide Fairview with access to a range of back-office, product and distribution services, including access to custody services and corporate governance functions.
Recommended for you
Grant Hackett has been promoted from CEO of Generation Life to head up the wider Generation Development Group.
Tribeca Investment Partners has made a distribution hire from Australian Ethical in a newly-created role focused on the national intermediary market.
Asset managers may be urged to diversify their product ranges, but investment executives have warned any M&A deal should avoid simply filling gaps and instead consider long-term value creation.
Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equity firm.
