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Dion Hershan, managing director of Yarra and head of Australian equities, would become executive chair and head of equities and the search for a new managing director had commenced. Until then, Garvin Louie would take the role on an interim basis.
Nikko AM would become a 20% shareholder in the combined group as a strategic investor, alongside private equity firm TA Associates, and appoint a director to its board while Michael Gordon, non-executive director at Yarra, would join the Tyndall board as chair.
Hershan said: “The transaction will enable us to continue strengthening our partnerships with clients and will provide the additional scale to support greater investment in talent, technology and operational excellence.
AustraliaYarraNew-south-walesJapanJapaneseAustralianHideo-abeMichael-gordonTroy-keenanDarren-langerDion-hershanGarvin-louieYarra Capital to buy Nikko Asset Management’s Australian business
Bloomberg
Melbourne-based Yarra Capital s purchase of Nikko s Australian business will create one of the nation s largest independent fund managers.
Yarra Capital Management, a Melbourne-based equity and fixed-income boutique, will acquire Nikko Asset Management s Australian business.
Combining Yarra s roughly A$8 billion ($6.3 billion) in assets under management with Nikko s A$12 billion business will create one of Australia s largest independent fund managers with AUM of about A$20 billion, Dion Hershan, Yarra s managing director and head of Australian equities, said Tuesday in a joint news release.
Under the merger Nikko Asset Management will get a 20% stake in Yarra Capital Management, the news release said.
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