Home / transaction / Berkshire Global Advisors acted as financial advisor to Pinnacle Investment Management
Berkshire Global Advisors acted as financial advisor to Pinnacle Investment Management
  • has acquired a minority interest in
  • Berkshire Global Advisors acted as financial advisor to Pinnacle Investment Management

  • Date: December 2019
  • Sector: Investment Management
  • Sub-Sector: Fixed Income
  • Region: APAC
  • Seller AUM: AUD$3 Billion
  • Seller Details:
    Established in 2011, Coolabah Capital Investments (CCI) is a leading long-only and long-short active investment-grade credit manager that is responsible for managing numerous institutional mandates, the Smarter Money Investments’ product suite, and the BetaShares Active Australian Hybrid ETF (ASX: HBRD). CCI has 21 staff including 4 portfolio managers and 9 analysts, spread across 3 offices. As at November 2019, CCI was responsible for managing A$3 billion of institutional and retail investments.

    Buyer Details:
    Pinnacle Investment Management is a leading Australian-based multi-affiliate investment management firm. Pinnacle consists of thirteen investment affiliates that collectively manage A$55.6 billion (as at 31 August 2019) in assets across a diverse range of asset classes. Pinnacle provides distribution and other support services to its affiliates.

    Transaction Summary:
    Pinnacle Investment Management (ASX: PNI) has entered into an agreement to acquire a 25% equity interest in Coolabah Capital Investments Pty Ltd, acquiring all of the equity currently owned by AMB Capital Partners, which is the private investment business of the Bennett Family, subject to the satisfaction of certain limited conditions precedent. Pinnacle will acquire a 25% interest in CCI for A$29.1 million, together with a further A$5 million upon the business achieving certain milestones over the next 18 month to 4.5 year period. Pinnacle sees strong demand and growth in htis asset class and is able to add distribution both locally and internationally. Coolabah is looking for offshore expansion and looking to work with a distribution partner to take the business to the next stage of growth. Separately Coolabah has agreed a distribution agremenet with Pinnacle that highly incentivised Pinnacle to raise AUM for Coolabah.