Dexion Capital Holdings / Fidante Partners (Challenger Limited)
Cavendish Corporate Finance, the UK’s leading sell-side mid-market M&A firm, has advised on the sale of Dexion Capital Holdings Limited, a leading London and Guernsey based alternatives business, to Fidante Partners, the boutique funds management division of Challenger Limited, an ASX-listed Australian investment management company.
Established in 2000, Dexion Capital focuses on the distribution of a range of alternative assets, managed by high quality asset managers, to a broad group of investors through both private and public capital markets. Since its inception the company has raised more than $18 billion from 110 transactions in partnership with leading investment firms and a wide group of investors across the UK and Europe. Today, Dexion operates as an alternatives specialist for investors and issuers in an expanding, multi-trillion pound alternative assets industry.
The acquisition substantially expands Fidante Partners’ presence in Europe where it already holds interests in UK-based alternative asset managers, including global infrastructure investor Whitehelm Capital and asset-backed security specialist, WyeTree Asset Management.
Cavendish Corporate Finance, which advised the shareholders of Dexion, has a wealth of experience in the financial services sector. Previous transactions include advising on the sale or fundraising for leading companies such as: Freedom Finance Holdings Limited, World First UK Limited and SME Invoice Finance Limited. Cavendish completed 20 transactions in 2014 and this is the firm’s 14th deal so far this year.
Peter Gray, Partner and head of the financial services team at Cavendish Corporate Finance who led on the deal, commented:
“Dexion is a first class operator in the fast growing alternative assets market and in Fidante Partners, it has found the perfect partner to facilitate the globalisation of the combined business. Dexion is the 14th transaction on which Cavendish has advised thus far in 2015 and following hard on the heels of our recently announced sale of Resolution Property, the leading property investment company, to Chinese conglomerate Fosun, this deal continues the trend of high quality UK financial services businesses attracting interest from overseas acquirers.”
“We are very pleased to be joining forces with Fidante Partners which is a highly successful multi-boutique fund manager in the world’s fourth largest pension market, Australia. We believe that bringing the capability of Fidante Partners to Dexion Capital is very attractive to both investors and managers. For investors, it provides access to a range of managers who have the same high standards of reporting, governance, transparency and fair fees via our combined platform. For managers, it builds on Dexion Capital’s existing distribution strengths by adding Fidante’s capability in Australia. Alternatives are the fastest-growing investment sector and will comprise 15% of global assets under management and 40% of revenues by 20201. Moreover, boutique managers punch above their weight in alternatives.”
Recent Deals for Financial Services Sector
London & Capital
Global Risk Partners
Sentenial Group & Nuapay
K3 Capital Group plc
Debt Advisory | plc
David Rubin & Partners
Begbies Traynor Group