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May 12, 2022

Emigrant Partners picks minority stake in Koda Capital

Emigrant Partners has acquired a minority stake in Australian independent financial advice firm Koda Capital, which serves high-net-worth (HNW) clients.

The financial terms of the deal were not disclosed. Koda’s partners will continue to hold 80% of the business.

As a strategic investor, Emigrant Partners will provide Koda with insights and know-how in areas such as technology and operations, financial advisor acquisition strategy and funding, as well as the wealth advice market.

The firm will also offer peer-based networks and professional development for the Koda team.

Additionally, Emigrant Partners will offer growth capital to support Koda’s acquisition strategy and funding structures for equity recycling to support its new equity partners.

Emigrant Partners CEO Karl Heckenberg said: “We are very excited to be joining the Partners of Koda as a minority investor in their business, our first investment outside the US.  Koda has successfully established a high quality independent advice business in the large and growing wealth market in Australia – a market that we see as very attractive.”

Established in 2014, Koda has 39 partners and 28 advisors managing AUD$10bn of client assets.

Koda chairman Steve Tucker said that the investment by Emigrant Partners is the outcome of a strategic review process that began last year to find a strategic partner to support the next phase of growth.

Koda CEO Paul Heath added: “This investment will see Koda double down on independence and staff ownership with our staff continuing to own 80% of the economics of the business.  Koda will also benefit from Emigrant Partners’ investments in 17 highly successful wealth businesses in the US as well as access to growth capital as we continue to attract high quality advisors to the Koda team.”

Last December, Emigrant Partners made a strategic non-voting minority investment in Beaird Harris Wealth Management, a Dallas-based fee-only registered investment adviser with $1.3bn in assets under management.

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