We are delighted to announce that Pinnacle Investment Management (ASX: PNI) has joined the Coolabah Capital Investments’ (CCI) family.
The ASX listed PNI, which has approx. $60 billion in FUM (including CCI), has acquired the Bennett family’s minority stake in CCI and will support the ongoing development of CCI’s unique active credit investment capability.
PNI has a suite of world-class institutional managers and an outstanding operational, compliance, governance and risk management infrastructure, which CCI will doubtless benefit from.
CCI is 75% owned and controlled by its investment team, which will remain the case. Most of the 21 executives, including 4x portfolio managers and 9x analysts, are shareholders in the business.
A specialist in the generation of active credit alpha, CCI currently runs more than ~$3.3 billion in committed and invested capital across four funds and numerous institutional mandates. You can read more about our unique ‘quantamental’ approach here.
PNI’s CEO, Ian Macoun, a former QIC CEO, and its executive director, Adrian Whittingham, will replace AMB’s directors on the CCI management company board, which is chaired by the former CEO of QIC and Deputy Chair of VFMC, Melda Donnelly, and also includes former Energy Super chair, Robert Henricks, as an independent director.
PNI now has minority shareholdings in 14 different fund managers, including CCI, with its $60 billion in FUM distributed across both the institutional, retail and global markets. This includes leading managers like Metrics, Plato, Solaris, Firetrail, Resolution, Antipodes, and Hyperion.
Importantly, CCI’s very strong long-term relationship with the Bennett family will only grow as AMB has committed to maintaining its significant investments across our strategies.
Finally, we are very excited about further expanding our differentiated internal investment infrastructure, and expect to add a number of executives to both our portfolio manager and analyst teams in the next six months.