360 Capital Group has entered into a binding agreement to acquire Ralton Asset Management, a managed accounts specialist.
It is one of several deals the increasingly active investment company has done in recent months.
Ralton will continue to operate its current investment business, which includes four Australian equity SMA strategies. Portfolio manager Will Riggall and Andrew Garside will continue with Ralton.
Following the completion of the deal 360 Capital will have $600 million of funds under management and an investor base of 8,000.
360 Capital’s head of public and private equity Dennison Hambling says the company will look for other consolidation opportunities.
Earlier in the month, 360 Capital launched Cambridge Investment Partners, which will offer capital raising, underwriting, M&A, IPO and secondary offering management, restructuring and other advisory services.
Cambridge is headed by Adam Coughlan. He and his team previously worked together for four years at Walsh & Co.
360 Capital managing director Tony Pitt says: “The addition of the Cambridge team is a reflection of our adaptation to changing market conditions, broadening our platform and strategies to provide investors with access to a more diverse offering and income base.”
In December 360 Capital and related entities took a 19.9 per cent holding in Velocity Property Group, a developer of property syndicates.
Also in December, the group announced that it had set up a credit income fund, which it plans to list on the ASX this year.
The fund is led by the group’s head of private credit Chris Chase, who says it will target a return of 5 per cent above the RBA cash rate.