Hi {{First name | there}},
Please see below for highlights on the deal:
Navigator Global Investments acquires portfolio of 17 net revenue share interests in 17 alternative asset managers from Stable for $195 million
The 17 alternative asset managers span 12 liquid alternatives, 3 private markets, and 2 other managers, and include: HarbourView Equity Partners, Paradigm BioCapital Advisors, Machina Capital, System 2 Capital, Phoenix Merchant Partners, Laburnum Capital, Trutino Capital Management, Forty51 Ventures, Amundsen Investment Management, Ananym Capital Management, Masterton Capital Management, Superstring Capital Management, Tribune Investment Group, Aptior Capital, ShadowFall Capital & Research, Authentic, and The Quarry
Portfolio acquisition, which adds $1.8 billion in ownership-adjusted AUM to NGI, will be named NGI Stable Growth Portfolio and form part of the NGI Strategic segment
Deal implies a 7.6x Price / CY25 Distributions multiple
In parallel to the acquisition, NGI will pay Stable $1.56 million / annum for 6 years to monitor and manage the NGI Stable Growth Portfolio, thereafter the fee being calculated based on how many managers in the NGI Stable Growth Portfolio)
Erik Serrano Berntsen, founder and CEO of Stable, will join NGI's board as an observer
Advisors: NGI (Macquarie Group, Aitken Mount Capital Partners, Morgans Financial Limited, Kirkland & Ellis, Clayton Utz), Stable (Seward & Kissel LLP, MinterEllison)
You can also see our LinkedIn post here with more details.
