Channel Capital confirmed today that its merger with Fidante has been cleared by the Australian Competition and Consumer Commission (ACCC), with the statutory review period now ended.
ACCC clearance is a key step towards completing the merger, which was announced in June.
The merged group will be one of Australia’s largest investment platform and services businesses, supporting more than A$150 billion in assets with over 240 professionals across 11 global offices.
Following completion, Channel Capital, Fidante and Continental Funds Group will continue to operate as distinct, client-facing businesses, with no change to the teams that clients work with or to the services they receive.
Channel Capital Managing Director Glen Holding said: “This is a milestone we have been working towards since June, and it brings completion firmly within reach.
“The confidence and support shown by our investment managers, clients and our own people over the past four months has reinforced our belief in the strength of our business and the opportunities ahead.
“This is a business built for the next decade and beyond. The group will have the scale, capabilities and global reach to continue investing in our people, our technology and the services we provide to investment managers and clients through all stages of the market cycle.
“With a presence across 11 offices globally and three complementary business lines, we will be better positioned to support our partners' growth ambitions, broaden access to new markets and deliver even greater value to clients over the long term.”
A further update will be provided upon completion.
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