Nikko Asset Management is set to acquire Tyndall Investments from Suncorp Group.
Tyndall currently has over US$24.5 billion in assets managed on behalf of institutional investors, superannuation funds and private clients in a broad range of equity and fixed income products. It is the fifteenth largest fund manager in Australia and fifth largest in New Zealand.
The acquisition of Tyndall will bring Nikko’s assets under management to US$145 billion.
Nikko CEO Timothy McCarthy says the acquisition strengthens the company’s bid to be the leading Asian investment management company, according to the International Adviser.
“Tyndall Investments brings us a first rate investment team and tremendous local knowledge. We know there is a lot of appetite for Tyndall’s products in Japan, as well as significant growth in Australia,” said McCarthy.
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