The new management firm will be renamed Talaria and it comes after the executive team of Wingate Asset Management acquired the majority of the equity stake from Wingate Group.
The executive team now owns 70 per cent of the business while Wingate Group retains 30 per cent.
The new chief executive of Talaria Jamie Mead said the buyout was the final step in the evolution to become an independent management owned asset manager.
“This restructure of ownership positions the business to fully capitalise on future opportunities for growth and performance, by bringing about the complete alignment of interests of the key executives at Talaria, with its investors,” he said.
In the restructure, Talaria has also appointed former managing partner of Freehills Martin Hudson as chairperson.
“We are particularly pleased to have attracted someone of Martin’s calibre to act as chairperson. He brings a wealth of global experience to the board and is the ideal person to join us on the next phase in our growth,” Mr Mead said.
The chief investment officer Chad Padowitz said that Talaria’s investment strategy was well suited to the increasingly sophisticated market.
“There is an enormous and growing appetite, particularly in the retiree market, for lower risk real returns, which is the basis of Talaria’s philosophy,” he said.
Mr Padowitz said the fund had gone from strength to strength and was well positioned for this next step.
“The business has experienced strong inflows in recent years and, coupled with its strong performance, is ideally positioned to offer investors in international equities differentiated risk adjusted performance,” he said.
