The partnership, involving a minority equity purchase by Pinnacle, ushers in the next phase of growth for the $4 billion Melbourne-based boutique investment manager on the dawn of their 10-year anniversary.

Omega co-founders Andrew Gruskin and Mathew McCrum, together with the Omega team, will retain majority ownership and control of the business.

“We are thrilled to enter into this new phase of Omega’s growth that will be bolstered by our strategic partnership with Pinnacle which brings perfect alignment to our core values and culture” McCrum said.

“Pinnacle has one of the most proven distribution teams, providing a strong boost to Omega’s market profile and penetration, that will help us to use the breadth of our investment experience and capabilities to bring to market a greater range of products and services to new and existing clients. In addition to bolstering Omega’s distribution efforts, Pinnacle will provide strategic, commercial and governance input to the Omega management team,” he said.

“We are seeing strong investor demand for Omega’s smart beta strategies and portfolio solutions and this partnership will accelerate our ability to deliver on that demand. This strategic partnership with Pinnacle brings renewed energy to our business and creates longevity for staff and clients, while continuing to deliver our most important objective of producing outstanding outcomes for our clients.”

Pinnacle Managing Director Ian Macoun said, “We are excited to enter into a new strategic partnership with Omega at a time when factor based, smart beta investing is at a major positive inflection point. Omega will enhance our ability to bring multi-asset smart beta solutions to the market. Omega has a strong reputation for delivering high quality client solutions combined with innovative global investment capabilities off which we are eager to build future investment products.”

Omega Global Investors was advised by Nelson Lam and Glenn Dunn of Berkshire Capital as sell side advisors and Hall & Wilcox as Legal Advisor.

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The late George Vassos

Omega Global Investors (Omega) will host a February tribute to its co-founder and former managing director, Mr George Vassos, and all the money raised will support the Rare Cancers Australia charity.

George passed away in December 2016 from cancer aged just 46 years. He was survived by his wife Shannon and three young daughters. A tribute and celebration of George’s life will be held on 6 February 2018 at the offices of PwC in Melbourne.

Mr Vassos was a co-founder and former managing director of Omega Global Investors, a $4 billion Melbourne-based global investment manager launched in 2008 by Andrew Gruskin, Mathew McCrum and George Vassos.
Mr McCrum said George will be remembered as a committed family man, a trusted mentor and business partner and an important figure in the Australian financial services industry.

“George will be remembered as a loved and valued member of the broader community and as a role model for professionalism and integrity in the funds management sector. This event will commemorate his life’s achievements and celebrate his memory,” said Mr McCrum.

“All funds raised from the tribute will go to support Rare Cancers Australia, a charity close to George’s heart. George believed strongly in bringing people together to make a difference in the community,” said Mr McCrum.
Prior to co-founding Omega, Mr Vassos was employed for several years at Vanguard in Melbourne, where he helped to establish the fund manager’s relationships with financial advisors and others in the financial community. Vanguard has created an internal award in Mr Vassos’s name in recognition of his contribution to the Australian funds management industry. Before Vanguard, Mr Vassos also spent several years employed with the Colonial Group.

Tickets to the tribute are available for $150 per person and bookings can be made here. Guests will enjoy an evening of cocktails and canapes. Two-time Paralympian Kelly Cartwright will speak at the event. A silent auction will be conducted and raffles sold and all proceeds will be donated to Rare Cancers Australia.

SuperEd, the leading digital advice provider, and its Co-Founder, Jeremy Duffield, are also sponsoring the event.  Jeremy was Founding Managing Director of Vanguard Investments Australia when George joined. “I remember George fondly for his effervescence and drive, which helped the firm establish a beachhead in a new market for us. He was great as part of our team. We’re pleased to support this benefit for Rare Cancers Australia in remembrance of George.”

Andrew Gruskin, fellow co-founder, said George’s legacy would be long lasting. “Despite his absence, we are determined to carry forward the legacy and influence of George. The event will honour George, his family and his life.”

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The appointment strengthens Omega’s risk-focused asset management capabilities and adds further depth to the firm’s proprietary research and credit analysis.

Omega‘s joint Director of Investments, Andrew Gruskin welcomed Andrew Cleeland’s appointment. He said the firm’s core belief is that superior investment outcomes can be achieved through understanding and controlling investment risk.

“Andrew’s significant experience in the research field is invaluable and will further enhance our business and investment team on behalf of institutional clients.”

Andrew joins Omega with over six years financial markets experience, specialising in quantitative research and analysis, valuation modelling and system development. In his most recent role, Andrew was a Quantitative Analyst at Austock Securities for five years, where he built and managed the quantitative research and construction of research reports. Andrew holds a Bachelor of Mechanical Engineering and a Graduate Diploma in Applied Econometrics.

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