Regal Partners Limited (ASX: RPL) announced the agreement to purchase PM Capital Limited, a renowned investment management company focused on global equities and fixed income strategies. Founded in 1998 by current Chairman and CIO, Paul Moore, PM Capital manages over AU$2.7bn in funds under management for Australian retail investors and financial advisory groups as of September 30, 2023.
The acquisition involves an upfront cash payment of AU$20 million, with potential additional consideration of around AU$130 million in redeemable preference shares subject to RPL shareholder approval. Upon completion, Regal Partners' total group funds under management will rise to AU$10.8 billion, which includes the recent partnership with Taurus Funds Management on a pro forma basis. Regal Partners anticipates the acquisition will positively impact its earnings per share in FY2024, and the cash portion will be financed using existing cash resources and investments on the company's balance sheet.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
