The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Fulcrum, Fidante
Fulcrum Asset Management has made a new strategic partnership with Fidante, a global investment management firm, part of Challenger Limited, the ASX-listed investment management company. Subject to regulatory approvals, Fidante will acquire a minority stake in the business; it will also gain exclusive distribution rights for Fulcrum’s products across Australia, New Zealand and Asia. The financial size of the stake wasn't disclosed.

Fulcrum, founded in 2004 and headquartered in London, manages over £6 billion ($8.04 billion). Its heritage in macro strategies and research is central to its business, the firm said in a statement. Its principal capabilities span discretionary strategies, alternative solutions and quantitative strategies, each underpinned by innovation and a disciplined investment process.

“A partnership with Fidante will allow us to enhance client outcomes by adding new sources of uncorrelated return to portfolios and investing in long-term research projects,” Suhail Shaikh, chief investment officer, Fulcrum said. “As part of the transaction, executive partners have also increased their ownership of the business.”

Joe Davidson, managing partner, Fulcrum added. “There is strong alignment between the culture and aspirations of both firms, and we are excited to work with Fidante to broaden access to our strategies for Australian and Asian investors. Fulcrum remains majority owned by its partners and employees.”

“The partnership strengthens Fidante’s growth strategy by expanding its alternatives offering at a time of rising client demand,” Victor Rodriguez, Challenger chief executive, funds management said. “Their expertise is a compelling addition to Fidante’s affiliate network and creates new opportunities for investors seeking world-class alternatives.”

Fidante’s investment will also provide a successful exit for one of the two Fulcrum founders, Andrew Stevens, who retired as CEO in December 2022, while Gavyn Davies is remaining as executive chairman.