NAB Asset Management (NAB AM), the asset management wing of National Australia Bank (NAB), has bought nearly 40% stakes in the newly-established London-based fund manager Intermede Investment Partners.
Intermede, founded by Barry Dargan, former partner at Artisan Partners, is an active global equities manager emphasizing on investing in listed mid and large capitalization companies.
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With the new partnership, NAB AM will hold a total of 14 investment boutiques that examine funds under management, advice and administration of around $178bn across a varied range of asset classes.
Garry Mulcahy, executive general manager at NAB AM, stated, "Our institutional clients are always on the lookout for high quality managers with capacity in this important asset class and the partnership with Intermede will deliver this."
Chief executive of Intermede, Barry Dargan, said, "With commitments from institutional investors of over $1bn, we are looking forward to focusing on doing what we do best – managing a single strategy, global equities. We see the global equity environment as a great market in which to add value for our clients."
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