Aqualand Group’s independent investment and fund management arm, AL Capital Holding (AL Capital), has acquired 100% of Peridot Investment Management (PIM).
AL Capital’s Advisory Board approved the transaction on Wednesday, 10 May 2023.
The deal will see Vincent Hua, PIM’s founder, Executive Director and Chief Investment Officer, joining AL Capital as a key senior leadership team member to oversee the growth strategy. He will work with Wayne Mo, CEO of AL Capital and CFO of Aqualand Group.
Founded in 2018, AL Capital is a growing asset management that predominantly invests in equity across public and private markets, with two products covering domestic and international equities.
Al Capital says that this acquisition, together with a partnership with Equity Trustee (EQT), will enable the company to offer retail-compliant products to its expanded client base.
The initial product lineup will consist of ALC Global Credit Fund, ALC Active Australian Equity Fund and ALC Active Global Equity Fund.
EQT will issue all three funds as the product issuer and AL Capital as the investment manager.
CEO Wayne Mo says the acquisition is part of AL Capital’s long-term growth strategy.
“AL Capital started out as a family office investing the Lin family’s funds. Through this transaction, we’re expanding our product offering and broadening our client base,” says Mr Mo.
“We already have significant institutional-grade infrastructure and governance experience with a combined expertise of over 150 years across the group.
“We’ve been delivering superior returns for the past five years. We even maintained strong positive returns over the last twelve months when the market was extremely volatile.
“With the agility of a family office, we’re able to move quickly on opportunities without being hamstrung by levels of bureaucracy.
“Now, we’ll also be able to leverage the complementary capabilities between Vincent and his team and our existing resources to achieve bigger and better returns for our Investors,’ says Mr Mo.
Hon. Warwick Smith AO, AL Capital Chairman, says he looks forward to welcoming Vincent and his team to AL Capital.
“..to not only bolster our service offering but also pursue our aligned values around giving back to the community," says Smith.
“Both AL Capital and PIM are already major supporters of the Art Gallery of New South Wales, particularly the gallery’s new extension, the Sydney Modern Project.
“It’s great that we share similar commitments and can look to increasing them together,” says Smith.
Emphasising a bond founded on shared values and commitments, Vincent Hua says he is excited to join the AL Capital family.
“The acquisition makes perfect sense from not only a business point of view but also from a cultural perspective,” says Hua.
“We share common values in our investment approach globally, but also philanthropically, with our support of the arts, such as the Art Gallery of New South Wales.
“It’s going to be exciting times ahead with the acquisition creating really compelling offerings for our combined client base,” says Hua.