PE firm completes acquisition of Mason Stevens
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to ramp up its growth strategy.
It was first announced last December that Sydney-based private equity firm Adamantem, which manages over $2 billion in assets under management, had entered into a binding agreement to acquire Mason Stevens.
Having now completed the transaction, the wealth platform said it marks an “exciting new chapter” as it seeks to accelerate its expansion plans and capitalise on Australia’s growing high-net-worth (HNW) sector.
In particular, Mason Stevens will boost investment in its integrated wealth platform and services for Australian wealth practices. It will focus on innovations that strengthen the client experience, enhance efficiency, and drive scaleable growth.
Tim Yule, chief executive of Mason Stevens, said the partnership with Adamantem represents a “pivotal moment” in the company’s history, allowing it to fast-track its vision of providing more investment solutions to its growing client base.
“Against a backdrop of rapid growth in the wealth management sector, we provide unique solutions that offer financial advisers the ability to think differently about how they grow wealth for their clients,” Yule commented.
“We look forward to working with the Adamantem team to build on the strong foundations we’ve established and continue to deliver superior results for existing and new clients.”
Adamantem Capital’s managing director, Georgina Varley, described Mason Stevens as well-positioned to support its clients amid the growth of the wealth management industry.
“Mason Stevens has built an impressive platform and investment offering to help financial advisers deliver on their clients’ investment goals. The breadth and sophistication of what Mason Stevens offers is what attracted us as investors and we’re excited to support them in the next stage of the company’s journey,” Varley said.
Since it was established in 2010, Mason Stevens has grown to manage some $8 billion in funds under advice, with more than 80 staff in its Sydney and Melbourne offices.
Adamantem is one of the many private equity firms that has taken an interest in the Australian wealth management industry in recent months.
Namely, Oaktree Capital invested $240 million in advisory group AZ NGA, alongside Insignia Financial receiving revised bids from Bain Capital and CC Capital.
According to Finura joint managing director Peter Worn, the “great privatisation of wealth”, as he describes it, is a healthy sign for the industry’s future.
“I think that should signal to a lot of people that Australian wealth management is a really great business to be in, that people want to put huge amounts of capital into for the future,” he said earlier this year.
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Jasmine Siljic
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