Ascalon Capital Managers has entered into a strategic partnership with global clean energy investment group Arkx Investment Management.
The Sydney-based boutique fund manager was the second joint venture unveiled by Ascalon since Westpac took full control of the boutique funds incubator in September.
To assist its continued growth in the boutique investment space, Ascalon plans to make further appointments to its sales team early next year, chief executive Andrew Landman told InvestorDaily.
"We'll probably add one or two business development managers (BDM) to our sales team. As we add new boutiques we want to make sure our sales team are focussed on a small amount of boutiques," Landman said.
"With every addition of a new boutique we'll look to make sure we've got the appropriate sales team for that business. We will make sure we earn our right to hold their equity so we can grow their funds under management (FUM)."
While the BDMs would predominantly be based in Sydney and Melbourne, Landman said Ascalon was looking to gain exposure and attract more FUM out of Western Australia, Queensland and Adelaide.
"We're also looking offshore as well which is a pretty key part for our business going forward. We've just signed a distribution agreement with a group out of Japan called Wolver Hill and that's primarily for H3 Global Advisors," he said.
"So that's sort of the beginning of getting some Asian exposure in terms of growing our FUM, rather than actually a funds management business there.
"The key for us is to have liquid assets and a good track record for the business but still have a boutique mindset; so small businesses but the ability to grow their FUM."
