MEDIA RELEASE Tribeca Investment Partners (Tribeca) is pleased to announce that the shareholding of Grant Samuel Funds Management (GSFM) has been acquired by Tribeca executive management effective from June 8, 2018.
Tribeca is an Australian-based boutique fund manager offering strategies across Australian smaller companies, long/short Australian equities and global natural resources.
After the buy-back of the equity stake, Tribeca will be 100 per cent owned by its management executives.
GSFM’s distribution arrangements with Tribeca will remain unchanged, with GSFM continuing to offer the Tribeca Alpha Plus and Tribeca Smaller Companies funds to Australian investors.
Andrew McKinnon, executive chair of GSFM, said: “GSFM acquired its equity stake in Tribeca in May 2008, and 2018 marks 10 years of a successful partnership.
“Over the past decade Tribeca’s funds under management have grown from $660 million to $2.2 billion, which is a testament to the success of our partnership.
“Our retail distribution partnership with Tribeca will remain unchanged by the sale, and we will continue to work closely with the Tribeca investment team to continue building on their success in the Australian market,” Mr McKinnon said.
David Aylward, CEO of Tribeca said: “The Tribeca management team is very pleased to take on 100 per cent ownership of the business, as we enter the next phase of our growth and development.
“GSFM’s model of marketing funds managed by high calibre local and international managers to the Australian market has been very important for us over the past decade and helped build our business to the size and scale that enables us to take this next step”.
Doug Bartlett, chief executive officer of the Grant Samuel Group, and Andrew McKinnon, will step down from the Tribeca board on the completion on the sale.