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Tribeca, GSFM see end of 16-year partnership

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By Rhea Nath
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3 minute read

The decision is amicable, they said, and follows Tribeca’s decision to internalise its distribution efforts.

GSFM and Tribeca Investment Partners have mutually decided to end their distribution agreement effective 31 May 2024.

In a statement, Tribeca chief executive, Adam Lavis, explained the decision stemmed from the firm’s growing scale and diversity, with Tribeca managing some $3.5 billion across various specialised strategies, including equities, credit, global natural resources and carbon.

“Tribeca manages over $3.5 billion across nine different strategies with investment teams in Sydney, Brisbane and Singapore. As we continue to grow in funds under management and diversity of strategies, it makes sense for us to internalise the distribution effort for all our funds,” he said.

“A centralised approach will enable us to better service our clients and represent Tribeca holistically to the market.”

Lavis also thanked GSFM for its help up to this point, adding Tribeca is “very excited” to embark on its next growth stage.

In an email shared with clients last week, GSFM confirmed it will no longer be responsible for distributing Tribeca’s funds and strategies in the Australian and New Zealand markets.

“GSFM and Tribeca Investment Partners have enjoyed a rewarding partnership since 2008, and the decision to part ways has been made amicably,” it stated.

“Our foremost priority is our clients, and we are committed to ensuring a seamless transition. We will work closely with Tribeca until the transition is completed.”

This means that, starting 1 June 2024, Tribeca Investment Partners will serve as the primary point of contact for the distribution of its funds and strategies.

GSFM added the separation will not impact existing distribution arrangements with its other fund manager partners, which include global income equity specialist Epoch Investment Partners, fixed income manager Payden & Rygel, global growth equity specialist Munro Partners, alternative investment manager Man Group, and private credit specialist Tanarra Credit Partners.

“GSFM continues to collaborate with nine other fund manager partners, each offering specialised investment strategies across various asset classes,” it stated.

“GSFM remains focused on identifying gaps in the investment market and filling them with the right solutions for investors.”

It also highlighted its “remarkable” growth trajectory since inception, with funds under management climbing to $9.33 billion as of 30 April 2024.

The announcement follows news last week that GSFM joined forces with Alantra Asset Management to introduce its EQMC strategy to Australian investors.

The partnership to distribute the EQMC strategy, which targets the listed European small and mid-cap space within Australia, would mark a strategic expansion into a new asset class for GSFM, providing investors with access to a well-performing fund not widely available in Australia until now.

Previously, it announced a partnership with Eastspring Investments Partners to distribute the GEM Dynamic Strategy in April this year.

GSFM also commenced a partnership with Access Capital Partners to distribute the Access European Smaller Buy-outs and Access European Infrastructure strategies in December 2023.