Pinnacle shares rally on Advantage Partners stake acquisition
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More news: Investment management firm Pinnacle was the top performer on the ASX 200 in early trade after snapping up a 5% stake in Japan-based private markets platform Advantage Partners.
Pinnacle shares were up 5.5% to $20.75 at 11:20am AEDT.
Pinnacle Investment Management to take $92m stake in Advantage Partners
The news: Pinnacle Investment Management Group has agreed to acquire an initial 5% stake in Japan-based private markets platform Advantage Partners, which could grow to 13% over a three-year period.
The numbers: The initial 5% stake will be acquired for $92 million, with the option for a further 8% available at a similar value.
The context: The initial stake is being acquired from Advantage managing partners and staff through existing cash and investments. It is expected to be completed in January 2026. Pinnacle joins existing strategic partner Tokyo Century as an investor in Advantage.
Pinnacle will also enter a business alliance agreement and a distribution services agreement with Advantage. This will cover “global distribution of their strategies, working alongside Advantage Partners’ in-house investor relations team and existing blue-chip LP base”.
Pinnacle also told the exchange that the deal is aligned with its “objective to diversify internationally and increase exposure to global private assets, particularly in the attractive mid-market area”.
What they said: “We have made great progress in exporting our unique multi-affiliate model globally. This transaction underscores our ability to partner with world-class teams with unique platforms in highly attractive asset classes and geographies,” Pinnacle managing director Ian Macoun said.
The source: ASX
