Antipodes buys Maple-Brown Abbott, takes FUM to $18.6b
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The news: Antipodes Partners has acquired fellow fund manager Maple-Brown Abbott (MBA), in a deal that will see MBA continue to operate under its brand.
The numbers: The expanded Antipodes Group, an affiliate of ASX-listed Pinnacle Investment Management, will oversee a combined $18.6 billion in funds under management, with around 30% sourced from offshore clients.
Pinnacle shares were up 1% to $16.47 by 1:25pm AEST.
The context: Under the agreement, MBA's global listed infrastructure, Australian value equities, and Australian small companies investment teams will continue to operate autonomously under the MBA brand, alongside Antipodes' existing global equities investment team.
MBA's global listed infrastructure investment capability will continue to be majority owned by its investment team led by Andrew Maple-Brown, Steven Kempler and Justin Lannen, and managed as a discrete entity.
There will be no changes to personnel within the MBA Australian value equities and MBA Australian small companies teams, which will report to Antipodes’ managing director and CEO Andrew Findlay.
What they said: "Maple-Brown Abbott is a storied investment boutique with well-respected and well-rated strategies servicing clients globally," Findlay said.
"Our business model, backed by Pinnacle’s institutional-grade fund infrastructure and global distribution capabilities, provides a stable and focussed environment for the MBA teams to continue delivering for clients well into the future.
"In partnership with the MBA teams, Antipodes is committed to building an enduring, diverse, and scalable investment management platform, alongside clients, staff, and the Pinnacle Group."
Maple-Brown said: "The Maple-Brown family, as majority owners of MBA, is proud of what the business has achieved in the past 40 years".
"The transition to new ownership will improve Maple-Brown Abbott’s market position in a highly competitive environment by operating under the enhanced Antipodes group structure and leveraging high quality distribution and support services," he said.
The source: Antipodes media release
