This afternoon, Pinnacle Investment Management Group Ltd (ASX: PNI) announced it will acquire an additional 6.80% stake in Metrics Credit Holdings, restoring its equity interest to around 35%. The $100.5 million deal is set to be funded from Pinnacle's existing balance sheet capacity.
Image source: Getty Images
What did Pinnacle Investment Management report?
- Pinnacle has agreed to acquire a further 6.80% of Metrics Credit Holdings for approximately $100.5 million.
- This increases Pinnacle's stake in Metrics back to around 35% ownership, matching its initial 2018 level.
- The deal will be paid 75% on completion, with the remaining 25% due twelve months later.
- The National Pension Service of Korea, via Townsend Holdings, will concurrently acquire a 6.37% stake in Metrics, bringing its total to 9.9%.
- Transactions are expected to complete between Q2 and Q3 of calendar 2026, subject to approvals.
What else do investors need to know?
The seller of the Metrics shares is the McNamara Family Trust, an entity associated with departing Metrics executive Graham McNamara. While McNamara will step back from his executive role in the first half of 2026, he will remain on as an ongoing adviser.
All other Metrics executives are maintaining their current equity positions. Pinnacle is funding the purchase entirely from its existing financial resources, highlighting the strength of its balance sheet and continued focus on strategic partnerships.
What did Pinnacle Investment Management management say?
Pinnacle Managing Director, Ian Macoun, said:
Pinnacle is proud to have worked alongside the Metrics team over the past decade as the Group has grown to become one of the Asia Pacific region's largest alternative investment managers. We continue to have enormous confidence in the ongoing domestic and international growth of Metrics, particularly as more investors recognise the benefits that can be delivered by experienced, highly diversified and large-scale private markets managers.
What's next for Pinnacle Investment Management?
Once completed, the transaction will restore Pinnacle's strategic influence in Metrics and support its growth ambitions. The partnership with the National Pension Service of Korea is expected to provide additional momentum, with both investors backing Metrics' expanding presence in private markets.
Management has reiterated its commitment to supporting Metrics' growth domestically and abroad, flagging ongoing opportunities for scale and diversification in alternative asset management.
Pinnacle Investment Management share price snapshot
Over the past 12 months, Pinnacle Investment Management shares have declined 15%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.
