The founder of ASX-listed funds management juggernaut Pinnacle Investment Management says its highly successful model of taking minority stakes in fund managers can work just as well overseas as it has in Australia.
The $4.4 billion funds firm is issuing at least $400 million of new equity to buy stocks in two offshore fund managers and make investments in existing funds within its stable, a move aimed at satisfying lofty growth expectations.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
