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Firm adds feather to its Kapstream

Boutique firm W Advisers negotiated the sale of a controlling interest in Kapstream Capital.

July 06, 2015 By Digital
Mark Wilson
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Firms: W Advisers (Kapstream Capital), Allens (Janus Capital Group)

Deal: Janus Capital Group purchased a 51 per cent interest in Australian-based portfolio manager Kapstream Capital.

Value: $111 million

Area: M&A

Key players: W Advisers principal Mark Wilson (pictured) lead the Kapstream strategy. The Allens team was headed up by head of corporate Guy Alexander and included Kate Towey (corporate partner), Simon Soljo (financial services), Veronice Siow (workplace relations partner) and Julia Baine (corporate).

Deal significance:

Kapstream is a “pioneer in managing unconstrained fixed income portfolios”, according to a release from both companies.

Janus Capital Group is a US-based global investment business with $189.7 billion in assets under management as of 31 March 2015.

Following the purchase, Kapstream will continue to operate under its own brand in Australia, with Fidante Partners continuing to provide distribution and operational support services.

Fidante has divested its its 25 per cent shareholding and Janus holds an option to acquire the remaining 49 per cent of the company in future.

Under the deal, long-term distribution and service agreements were also negotiated with Challenger Group.

According to Mr Wilson, the deal showcases the growing influence of boutique firms in global transactions.

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