Pinnacle increases stake in Metrics to 35%
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The news: Pinnacle Investment Management has acquired an additional 6.8% of existing equity in Metrics Credit Holdings as former managing partner Graham McNamara sells shares.
The numbers: The acquisition will cost around $100.5 million and will restore Pinnacle’s equity interest to about 35%. The purchase will be funded from existing balance sheet capacity.
At the same time, the National Pension Service of Korea (NPS) through its strategic partnership with Townsend Holdings has agreed to purchase another 6.37% of existing equity in Metrics. Its shareholding will be taken to 9.9%, subject to approval by the Foreign Investment Review Board.
The equity purchases expect to be completed during the second and third quarter of 2026.
The context: The shares have been sold by McNamara’s associated entity HRM Holdings. McNamara retired on 31 March but will continue to be involved in the business as an adviser.
What they said: Metrics managing partner and chief executive Andrew Lockhart said: “We are pleased to confirm the agreed transition of equity in the business to our existing strategic shareholder partners, PInnacle and the NPS/Townsend partnership, who continue to demonstrate strong support for Metrics’ future growth and success”.
The source: ASX
