Pinnacle Investment Management (ASX:PNI) has announced investments in two international asset managers—VSS Capital Partners (VSS) and Pacific Asset Management (PAM). Together, the investments total $143m. The acquisitions aim to strengthen Pinnacle’s foothold in private capital and international markets.
In VSS, Pinnacle now has a 22.5% stake. The company is a US-based structured capital firm with $961m in funds under management. VSS, known for its expertise in healthcare, education, and business services, plans to launch a $1.2bn Fund V in 2025. Jeffrey Stevenson, VSS’s Managing Partner, praised the partnership, stating, “Pinnacle’s distribution platform and expertise in private market assets will help us achieve our growth potential.”
In PAM, Pinnacle has a 25% stake. PAM is a UK-based asset manager with $11bn in assets under management. PAM focuses on technology-enabled solutions for advisers and wealth managers, offering significant opportunities for collaboration with Pinnacle’s existing affiliates.
Pinnacle raised $400m through an institutional placement to fund these acquisitions and support future initiatives.
The company is currently in a trading halt. Its shares last traded at $21.44.