Westpac subsidiary Ascalon Asset Management has no immediate plans for further expansion into Asia following its two recent acquisitions, Canning Park Capital and Athos Capital.
However the company has expressed continued interest in further work in the region.
“Given we have just made two acquisitions, we don’t have any impending [plans for expansion] at the moment,” Ascalon Asset Management head of business development Jason Collins told InvestorDaily.
“But we are always interested in what is happening in the market, and by all means, two asset firms in Asia is not the end of our expansion plans.”
Collins explained that there are no imminent plans at this stage.
“We would expect that there would be more partnerships formed in Asia over the next few years,” he said.
“We’ve got seven partner firms, we feel like we’ve got pretty good series of partnerships. It could be that we look at some other things.”
In January, Ascalon announced its partnership with Singapore-based Canning Park Capital with a 30 per cent equity stake.
Ascalon made its first expansion into Asia with the acquisition of a 35 per cent stake in Hong Kong-based alternative manager Athos Capital in December.
Athos Capital is the equity partnership between Moskey, Erik Senko and Fred Schulte-Hillen.
