• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / Global asset manager-led consortium takes half of Pathfinder

Global asset manager-led consortium takes half of Pathfinder

February 10, 2019

Pathfinder CIO Paul Brownsey; Tailorspace chief, Brett Gamble; LJ Partnership co-founder Andrew Williams; Ben Gough and Pathfinder chief, John Berry

The formerly Takapuna-based boutique manager, Pathfinder, has sold down a 51 per cent stake to Alvarium Wealth Management, a newly-created consortium majority-owned by the $25 billion global asset manager LJ Partnership.

Last year LJ Partnership (due to adopt the Alvarium Partners name) along with Christchurch investment firm Tailorspace bought half of another Auckland fund manager, the absolute return investment specialist NZAM.

LJ Partnership and Tailorspace (the investment firm of high-powered Christchurch businessman, Ben Gough) own about 70 per cent of Alvarium Wealth with NZAM associates holding the remaining 30 per cent.

John Berry, Pathfinder CEO, said the deal would boost the firm’s ability to grow in the rapidly-expanding sustainable investment market in NZ.

In 2017 Pathfinder, which manages about $140 million through a range of retail funds and wholesale clients including Ngāi Tahu, rebranded under the ‘invest responsibly’ tagline.

Berry said the NZ sustainable investment market was poised for further growth in line with global trends that have seen environmental, social and governance (ESG) factors enter mainstream discourse.

“There’s a real opportunity to grow this space in NZ,” he said.

Pathfinder would also tap into Alvarium’s global resources while potentially sharing back-office and compliance duties with NZAM, Berry said.

Andrew Williams, the LJ Partnership co-founder who divides his time between his Auckland home and the London head office, said Pathfinder added an ESG capability to the global group.

“We liked their investment thesis and approach, and are pleased to have it at our disposal,” Williams said. “Of course, we plan to grow the business.”

He said as well as supporting Pathfinder to expand in the local market there could be offshore opportunities including fund flows from the Alvarium (LJ Partnership) networks.

LJ Partnership describes itself as a “research led investment firm providing customised solutions to sophisticated clients”. The business provides direct investment, fund management as well as trust and administration services across eight locations in Europe, the US, Hong Kong and NZ.

Williams said Alvarium could buy other investment managers in NZ and offshore “when we see the right talent”.

“If we find the right people we will continue to grow the business here and in other regions,” he said.

Berry and Pathfinder co-founder, Paul Brownsey, retain substantial (and equal) ownership in the firm with Rebecca Thomas, head of Mint Asset Management, and well-known company director, Sandy Maier, also holding a small bloc of shares each.

Following the Alvarium deal, Pathfinder moves this week from its briefly-occupied Takapuna office to new Auckland CBD premises in Zurich House, which also includes NZ Funds Management, the NZX and the NZ Superannuation Fund as tenants.

 

Print Friendly, PDF & Email
Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • Brian Gaynor: a personal obituary May 22, 2022
  • Value-for-regulation: more money for FMA as funding boost, levy rise confirmed May 22, 2022
  • Adviser association wind-up on table as PI board stoush erupts May 22, 2022
  • Budget flags annual KiwiSaver contribution spike to $9.5bn May 22, 2022
  • Trust up but CFA survey finds insto-retail crisis disconnect May 22, 2022
  • Restoring active pride, JANA debunks outperformance prejudice May 22, 2022
  • Crypto a no-go for instos: PGIM May 22, 2022
  • BetaShares comes to town as NZ product looms May 22, 2022
  • So derivative: Australian regulator moves further on regional trading standards shake-up May 22, 2022
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Investment News

  • Brian Gaynor: a personal obituary May 22, 2022
  • Value-for-regulation: more money for FMA as funding boost, levy rise confirmed May 22, 2022
  • Adviser association wind-up on table as PI board stoush erupts May 22, 2022
  • Budget flags annual KiwiSaver contribution spike to $9.5bn May 22, 2022
  • Trust up but CFA survey finds insto-retail crisis disconnect May 22, 2022
  • Restoring active pride, JANA debunks outperformance prejudice May 22, 2022
  • Crypto a no-go for instos: PGIM May 22, 2022
  • BetaShares comes to town as NZ product looms May 22, 2022
  • So derivative: Australian regulator moves further on regional trading standards shake-up May 22, 2022
  • Vale Brian Gaynor May 16, 2022

Search by Keyword

Most Recent Investment News

Brian Gaynor: a personal obituary

May 22, 2022

Value-for-regulation: more money for FMA as funding boost, levy rise confirmed

May 22, 2022

Adviser association wind-up on table as PI board stoush erupts

May 22, 2022

Budget flags annual KiwiSaver contribution spike to $9.5bn

May 22, 2022

Trust up but CFA survey finds insto-retail crisis disconnect

May 22, 2022

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • Government dumps five defaults adds two in major overhaul posted on May 14, 2021
  • Kiwi Wealth hits the bigger time posted on November 26, 2017
  • NZ Funds directors back on board posted on April 24, 2016

Sponosored Content

Why timing the market is a fool’s game

An active investment manager’s lockdown toolkit: impacts, learnings and benefits

Mint chief executive, Rebecca Thomas

Join the club: financial wellbeing for women

Ensuring good customer outcomes

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • Brian Gaynor: a personal obituary May 22, 2022
  • Value-for-regulation: more money for FMA as funding boost, levy rise confirmed May 22, 2022
  • Adviser association wind-up on table as PI board stoush erupts May 22, 2022
  • Budget flags annual KiwiSaver contribution spike to $9.5bn May 22, 2022
  • Trust up but CFA survey finds insto-retail crisis disconnect May 22, 2022
  • Restoring active pride, JANA debunks outperformance prejudice May 22, 2022
  • Crypto a no-go for instos: PGIM May 22, 2022
  • BetaShares comes to town as NZ product looms May 22, 2022
  • So derivative: Australian regulator moves further on regional trading standards shake-up May 22, 2022
  • Vale Brian Gaynor May 16, 2022

Footer

Copyright ©2022 InvestmentNews.co.nz — All Rights Reserved — Terms & Conditions