Challenger Limited’s boutique funds management division, Fidante Partners, has bought alternative investments group Dexion Capital Holdings Limited for an undisclosed sum.
Dexion comprises interests in three specialist fund managers, as well as an investments distribution business, based in London.
Fidante Partners already holds interests in UK-based alternative asset managers, including global infrastructure investor Whitehelm Capital and asset-backed security specialist WyeTree Asset Management.
Ian Saines, Challenger’s chief executive for funds management, described the deal as a “significant step-up” in its European presence and an “important part” of its international distribution and product expansion.
“Dexion Capital’s funds management operation provides a scalable platform to realise our ambition of replicating Fidante Partners’ successful multi-boutique model in the European market, while opening up global distribution opportunities for our existing boutique managers,l” he added.
Mr Saines added that the deal provides a large established distribution channel to UK and European investors.
Dexion Capital’s founder Robin Bowie, commented that for investors, it provides access to a range of managers who have the same high standards of reporting, governance, transparency and fair fees via their combined platform.
“Alternatives are the fastest-growing investment sector and will comprise 15 per cent of global assets under management and 40 per cent of revenues by 2020. Moreover, boutique managers punch above their weight in alternatives.”
emma.hughes@ft.com
