Ironbark Asset Management to acquire the Certitude Global Investments Business

Craig Mowll

Ironbark Asset Management announced yesterday that it has agreed to acquire Certitude Global Investments from its holding company, HFA Holdings Limited. The acquisition is expected to complete on 30 April 2015.

At completion, Ironbark will acquire 100% of the issued capital of Certitude from HFA. Certitude is the responsible entity of a number of registered managed investment schemes (the Certitude funds), and the management and operation of the Certitude funds will transition to the Ironbark Group on completion of the sale. The existing relationships with the investment managers of the Certitude funds will be maintained, which includes HFA subsidiary Lighthouse Partners, LLC (Lighthouse), Asian specialist manager GaveKal Capital Limited and USD500 billion global investment house Columbia Threadneedle Investments.

Ironbark is an independent provider of global asset management solutions. The acquisition is in line with Ironbark’s strategy to maximise its footprint in the Australian asset management market. Ironbark Chief Executive Officer, Chris Larsen, said the acquisition was a good strategic fit with its existing partnerships.

“The Certitude business provides a particular capability in global asset management that complements Ironbark’s existing offers and fund managers. We are delighted to be acquiring a business of such strength and capability, with strong customer relationships,” he said.

Craig Mowll, Certitude Chief Executive Officer, said: “We know this acquisition will deliver the scale opportunities to Certitude’s existing investment management suite which will ultimately benefit our clients. Certitude has a strong business model and this move ideally positions it to continue growing.”

As HFA Holdings Chairman, Michael Shepherd explained, the HFA Holdings board made the decision to sell the Certitude business after detailed consideration of its strategy and operations, after which a competitive bidding process was undertaken.

“This is a value creating transaction for our shareholders, Certitude’s partnered fund managers and of course investors. Ironbark has a great reputation in the industry and ability to effectively meet Certitude’s client needs. These were key considerations in HFA Holdings’ decision,” Mr Shepherd said.

Sean McGould, President and Co-Chief Investment Officer of Lighthouse, echoed Mr Shepherd’s response. “This transaction allows us to continue building scale and deepening our customer relationships in the Australian market where we have been present for 15 years. We’re pleased to be associated with such a well-regarded business as Ironbark,” Mr McGould said.

The transaction was advised and managed by Nelson Lam and Andrew Gale of Chase Corporate Advisory.