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
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.
An independent expert has ruled the Perpetual deal with KKR is no longer in the best interest of shareholders in light of the increased tax liabilities.
The Australian wealth management firm has named a custodian for its MLC and OnePath businesses following an extensive tender process.
Global real asset manager CapitaLand Investment has announced a key acquisition from Wingate as part of its growth strategy in Australia.
