Antipodes Partners acquires Bennelong FM

Antipodes Partners will acquire Bennelong Funds Management from Bangarra Group, which includes investment affiliates Quay Global Investors, Bennelong Australian Equity Partners and Skerryvore Asset Management.

The transaction is expected to complete before the end of September.

Antipodes Partners chief executive Andrew Findlay said: "The addition of Bennelong's high-quality investment teams is consistent with our strategy to further diversify the Antipodes platform, broaden our investment offerings and strengthen our distribution capabilities."

Bangarra Group founder Jeff Chapman noted as multi-specialist investment firms Bennelong and Antipodes both share a common philosophy and structure.

"I am delighted that Antipodes will seek to grow what we have built over twenty years and I wish them every success," Chapman said.

The Bennelong investment affiliates will retain investment autonomy, with no changes to their investment personnel, philosophies or strategies as a result of the transaction.

Bennelong FM chief executive John Burke said: "We believe our broad support base of financial advisers and investors will benefit from the combined scale and expertise of both firms."

Antipodes' existing platform manages more than $21 billion across five independent investment teams operating under the Antipodes and Maple-Brown Abbott brands. Its strategies span global and emerging market equities, global credit, global listed infrastructure, Australian value equities and Australian small companies.

"The Antipodes platform, backed by Pinnacle's institutional-grade infrastructure and operational capabilities, provides a stable and supportive environment in which specialist investment teams can focus on delivering for clients," Findlay said.

Last year, Bennelong boutique Touchstone Asset Management closed its doors due to low funds under management of about $14 million. Touchstone was launched in 2015 by principals Jack Chemello, Suellen Morgan and Mary Feros. At its height, it had some $3.5 billion in funds under management.

Burke attributed the decision to pressure from the Your Future, Your Super legislation, institutions' efforts to in-house investments and a weak asset raising environment.

Affiliate Canopy Investors also recently shut its doors three years since launching. The boutique launched in early 2023 by Magellan Financial Group veterans Kris Webster and Michael Poulsen.