The transaction is expected to close by year-end, subject to certain approvals. In conjunction with the deal, Edward Sippel and Michael Berk, Managing Directors at TA Associates, will join the company’s Board of Directors. The financial terms were not disclosed.
TA Associates is partnering with Australia Equities’ senior management team consisting of Dion Hershan, who will be Managing Director of the new standalone entity and will continue to lead the Australian Equities investment team, focusing on large cap equities; Katie Hudson, who will co-lead the Australian Equities team, focusing on the small and mid-cap universe; and Roy Keenan, who will be Fixed Income Portfolio Manager.
Australia Equities is a leading Australian equities and fixed income fund manager. The company’s core offering is its Fundamental Australian Equities product set, consisting primarily of long only concentrated strategies. Fixed income capabilities include Multi-Asset and Hybrid strategies.
With more than A$8 billion in assets under management, the firm serves the Australian institutional and retail markets, and distributes Australian investment products overseas, including in Japan.