BetaShares, a Sidney, Australia-based ETF manager with more than $16 billion in assets under management, received an investment from TA Associates.
As part of the transaction, TA has acquired the shares held by Mirae Asset Financial Group and other minority investors in BetaShares. The financial terms of the transaction were not disclosed.
The company intends to use the funds for a major expansion of its business activities.
Led by Alex Vynokur, Founder and Chief Executive Officer, BetaShares develops, launches and manages ETFs that are traded on the Australian Securities Exchange (“ASX”). The company offers one of the country’s largest and most diverse range of ETFs, with funds covering Australian and international shares, fixed income, cash, currencies, commodities and alternative strategies.