Scott Hartley
CC Capital, a private investment firm focused on investing in and operating high-quality businesses for the long term, and One Investment Management (“OneIM”), a global alternative investment manager, has announced they have entered into a Scheme Implementation Deed (“SID”) with Insignia Financial Ltd (“Insignia”) (ASX: IFL), Australia’s leading diversified wealth management group with over A$330 billion in funds under management and advice.
Under the SID, CC Capital and OneIM will acquire 100 percent of Insignia for A$4.80 in cash per share via a scheme of arrangement, representing an enterprise value of approximately A$3.9 bn (US$2.5bn) and a 56.9% premium to Insignia’s undisturbed share price of A$3.06 per share on 11 December 2024.
“We believe that Australia’s superannuation system is world-class in addressing the structural challenge of aging populations saving for retirement,” said Chinh Chu, Senior Managing Director of CC Capital. “Insignia’s scale, trusted brands, and deep relationships across the A$4.1 trillion (US$2.7 trillion) superannuation market[1] make it a compelling long-term platform for growth. We recognize the high duty of care required to steward a business with Insignia’s rich heritage and connection to the retirement and superannuation system, and we are confident that our investment acumen and long-term approach will position us to improve member outcomes and further enhance the operational trajectory of the business.”
OneIM’s CEO and co-founder Rajeev Misra said: “We are excited to partner with Insignia’s management team to help craft the company’s next chapter of continued growth and unmatched member service. We believe Insignia will benefit from OneIM’s approach to creating long-term value for all stakeholders as we help combine Insignia’s history of excellence with technological and investing expertise.”
Scott Hartley, CEO of Insignia Financial, added: “Subject to shareholder and regulatory approvals, the CC Capital and OneIM offer would deliver attractive value to our shareholders, while providing the resources and global perspective needed to accelerate our strategic agenda for members, customers and advisers. I look forward to working with the CC Capital and OneIM teams to continue our focus on creating best-in-class service and outcomes for our members.”
The Insignia Board unanimously recommends that shareholders vote in favor of the scheme, subject to no superior proposal, and subject to an independent expert concluding that the transaction is in the best interests of shareholders.
The transaction is subject to customary regulatory and closing conditions, including approvals from the Foreign Investment Review Board (“FIRB”), the Australian Prudential Regulation Authority (“APRA”), Court and Insignia shareholders. Insignia shareholders are expected to vote on the scheme of arrangement in the first half of 2026 with the transaction to be completed shortly thereafter.
Additional information
The full SID has been filed with the ASX by Insignia. Further information regarding the transaction will be included in the Scheme Booklet expected to be mailed to shareholders in early 2026, as well as in subsequent ASX announcements made by Insignia.
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