Investment education firm The Centre for Investor Education (CIE) has been sold to two wealth professionals.
The new owners include private wealth manager Jamie Nemtsas and corporate finance specialist Erling Sorensen.
Nemtsas sold his business to Macquarie Bank-backed firm Lachlan Partners. Sorensen's most recent role was in London with metal producer Nyrstar as the chief commercial officer.
CIE was founded 16 years ago by Melda Donnelly. The business provided Australian institutional investors with educational services, including global seminars.
CIE's clients include industry superannuation funds AustralianSuper, UniSuper and HESTA, and investment firms PIMCO, Schroder Investment Australia and State Street Global Advisors.
"The ability for CIE to be able to continue to provide the relevance and deliver the quality of educational material with the energy, insight and passion our clients need and expect is of utmost importance to me," Donnelly said.
"Making sure the right people could succeed me to carry out the ongoing delivery of CIE's services was key in my selection of acquirers," she said.
Donnelly, who is also Victoria Funds Management Corporation deputy chair, said she will remain closely involved in CIE and will continue to chair key events.
Nemtsas said he and Sorensen were attracted to the business because it was "unique and interesting" and had a global reach.
"The business is more of a think tank, providing the wholesale market with leading-edge ideas and information," he said.
Nemtsas said the business will continue to focus on the wholesale market, but did not rule out providing seminars to financial planners if such firms approached the company.
