GDG acquires Evidentia – Monetary Newswire | Australian Markets
Era Improvement Group has moved to amass Evidentia Group in a transfer which it says will construct on its presence within the managed accounts market.
In an announcement to the Australian Securities Trade (ASX) GDG mentioned it had entered into a binding settlement to amass 100% of Evidentia Group for $320 million up-front.
It described Evidentia as a extremely strategic alternative for GDG as one of Australia’s main suppliers of investment management and tailor-made managed account options.
“GDG’s acquisition of Evidentia and subsequent merger with Lonsec Investment Solutions will bring together two of the leading and fasted growing managed account providers as the undisputed leader in the market, with a combined total of over $25 billion in funds under management (FUM),” it mentioned.
It mentioned Evidentia management could be retained post-acquisition, with present chief govt, Peter Smith, to turn into govt chairman.
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