Long/short Australian equities and global natural resources manager Tribeca is no longer partly owned by managed fund distributor Grant Samuel Funds Management (GSFM).
The executive management of Tribeca have acquired all of GSFM’s shares, transferring 100 per cent of the ownership of the boutique fund manager to its management.
GSFM bought its equity stake in Tribeca in May 2008, shortly after GSFM was established in July 2007.
Tribeca’s funds under management have grown from $660 million to $2.2 billion in the past decade, according to GSFM executive chair Andrew McKinnon.
“Our retail distribution partnership with Tribeca will remain unchanged by the sale, and we will continue to work closely with the Tribeca investment team to continue building on their success in the Australian market,” Mr McKinnon said.
Tribeca chief executive David Aylward said GSFM had allowed the boutique firm to build its business to the size and scale that “enable us to take this next step”.
Both GSFM chief executive Doug Bartlett and Mr McKinnon will step down from the Tribeca board upon completion of the sale.
