Investment manager Barings has signed a definitive deal to purchase 100% of Australia-based Gryphon Capital Partners for an undisclosed sum.
Gryphon Capital Partners is the parent company of wholly-owned Gryphon Capital Investments (GCI), which acts as the investment manager of Gryphon Capital Income Trust.
Gryphon will leverage the deal to boost its investment strategy by using Barings’ global platform.
It also allows Barings to deliver its global structured finance offerings in the Asia Pacific region (APAC) region and speed up its entry into the Australian wealth space.
Following the completion of the deal, Gryphon’s A$2.6bn ($1.7bn) in AUM will be incorporated into Barings Global Structured Finance’s $8.2bn in AUM.
Gryphon’s existing workforce will become part of Barings Global Structured Finance team, with Steven Fleming and Ashley Burtenshaw continue to serve as portfolio managers of GCI.
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By GlobalDataThe deal, which is subject to regulatory approvals, is anticipated to be finalised by 31 March this year.
It also comes after Barings bought 100% of Australian real estate firm Altis Property Partners.
Gryphon co-founder and portfolio manager Steven Fleming said: “We are excited to have found a partner in Barings and believe there is strong alignment in our respective culture and investment philosophies.
“Our clients will benefit from Barings global investment capabilities together with the operational and business support from one of the world’s leading asset managers.
“The transaction is expected to bolster Gryphon’s access to capital and strengthen its ability to deliver its long-term growth strategy.”