Antipodes Partners Holdings Pty Ltd has finalised an agreement to acquire 100 per cent of Maple-Brown Abbott Limited (MBA).
The acquisition will see the MBA global listed infrastructure, Australian value equities, and Australian small companies investment teams operate autonomously under the Maple-Brown Abbott brand, alongside Antipodes’ existing global equities investment team. The expanded Antipodes Group, an affiliate of Pinnacle Investment Management Limited (ASX: PNI), will oversee a combined A$18.6 billion1 in assets.
Maple-Brown Abbott’s global listed infrastructure investment capability will continue to be majority owned by its investment team led by Andrew Maple-Brown, Steven Kempler and Justin Lannen, and managed as a discrete entity.
There will be no changes to personnel within the MBA Australian value equities and MBA Australian small companiesteams, which will report to Andrew Findlay, Antipodes’ managing director and CEO.
Mr Findlay said the addition of the MBA teams to Antipodes creates an enhanced investment management platform that will deliver benefits for clients.
“Maple-Brown Abbott is a storied investment boutique with well-respected and well-rated strategies servicing clients globally. Our business model, backed by Pinnacle’s institutional-grade fund infrastructure and global distribution capabilities, provides a stable and focussed environment for the MBA teams to continue delivering for clients well into the future.
“In partnership with the MBA teams, Antipodes is committed to building an enduring, diverse, and scalable investment management platform, alongside clients, staff, and the Pinnacle Group.”
MBA was established as an investment management firm in 1984 and is regarded as one of the pioneers of value investing in the Australian market.
Prior to its acquisition by Antipodes, MBA managed A$9.1 billion on behalf of a diverse range of global and Australian institutional, wholesale, family office, and retail clients. The acquisition will see Antipodes’ group funds under management increase to A$18.6 billion, approximately 30 per cent of which is sourced from offshore clients.
On behalf of the Maple-Brown family, Andrew Maple-Brown said MBA and Antipodes share common client-centric values and mutual ambitions to grow and strengthen a multi-generational active management platform.
“The Maple-Brown family, as majority owners of MBA, is proud of what the business has achieved in the past 40 years. Starting with the late Robert Maple-Brown AO and Christopher Abbott AM first managing $35 million back in 1984, we have expanded significantly, held true to our investment philosophies, and evolved to be the diversified business we are today. I have no doubt Maple-Brown Abbott is now positioned for this legacy to continue for many decades to come.
“The transition to new ownership will improve Maple-Brown Abbott’s market position in a highly competitive environment by operating under the enhanced Antipodes group structure and leveraging high quality distribution and support services,” Mr Maple-Brown says.
