Challenger Limited, Access Capital Advisers (ACA) have inked an agreement with to merge their infrastructure investment operations to create a new boutique infrastructure business, Whitehelm Capital.
The new business will consist of US$4 billion funds under management and 48 employees across London, Sydney, Singapore and Canberra.
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The merger will be fully scrip-based with 70% of the shares held by senior managers and the remaining 30% held by Challenger’s Fidante Partners.
Fidante Partners will also provide marketing and distribution services to the new firm, which will become its fifteenth boutique and first infrastructure investment manager.
Graham Matthews, Whitehelm interim CEO and ACA executive, said: "The merger will allow us to better serve our existing clients through scale and combined expertise.
"Infrastructure investing is a scale business in every sense of the word. We are excited by this growth opportunity and believe our investors will immediately benefit from a broader range of potential assets and investment structures."
