Treasury Group takes stake in private equity breakaway
Boutique fund manager Treasury Group has taken a 15 per cent equity stake in the former Macquarie Group private equity funds management business now known as ROC Equity Partners.
ROC was formed in mid-March of this year when the three fund managers of the former Macquarie Investment Management Private Markets purchased the business for an undisclosed figure. At the time of sale the business had $5 billion in assets under management.
Treasury Group will also provide a five-year working capital facility which can be drawn down by ROC at its discretion, with Treasury Group committing a total of $4.5 million from its internally available working capital to ROC.
Treasury Group chief executive and managing director Andrew McGill, who is expected to join the ROC board, said ROC management had been known to Treasury Group for many years.
Treasury Group stated it would also provide services to ROC in the areas of risk, compliance, accounting and operation support.
Recommended for you
Fixed income ETFs have staged a comeback after seeing a dip in September, according to Betashares’ latest monthly report, with three funds being among the top 10 largest monthly inflows.
The global investment manager is understood to be seeking a larger footprint in alternatives as it eyes taking a potential stake in a private credit manager.
Selfwealth has announced it has received a “highly attractive” bid from Bell Financial Group to acquire 100 per cent of the company, valuing the company at $51 million.
The fund manager has voiced optimism regarding the 60/40 allocation, noting the strategy can be a wise choice for clients in the long term.
