Acquisition of Merricks Capital, Group FUM to increase to $15.1 billion
Regal Partners Limited is pleased to announce it has entered into a share sale deed to acquire 100% of JRJJ Capital Pty Ltd (trading as "Merricks Capital"). Founded in 2007 by current Executive Chairman and Chief Investment Officer Adrian Redlich, Merricks Capital is a hard asset investment specialist with a 17-year history of delivering growth and consistent returns in private credit and alternative investments in Australia and New Zealand.
With a dedicated team of 44 working across offices in Melbourne and Sydney, Merricks Capital’s mission, in partnership with its investors, is to deliver consistent returns by providing innovative capital solutions across commercial real estate, agriculture, and specialised industrial and infrastructure assets. As at 30 April 2024, Merricks Capital managed approximately A$2.9 billion1 in capital across three dedicated funds and a number of co-investment vehicles for a broad range of wholesale wealth advisory firms, institutional client groups and family offices. The acquisition of Merricks Capital will increase Regal Partners’ total group funds under management (“FUM”) by 24% to A$15.1 billion2 on a pro forma basis.
"The addition of Merricks Capital to the Regal Partners platform will significantly expand the origination and underwriting capabilities for both groups, bringing Regal’s total FUM across credit and royalty solutions alone to over A$6 billion3. We are thrilled that Adrian and the Merricks team have chosen to partner with Regal for the next phase of their growth, and we believe that the combination of Regal and Merricks will be exceptionally well positioned to benefit from the continued growth in opportunities across private credit in Australia and New Zealand.”
- Regal Partners Chief Executive Officer Brendan O’Connor
Deal completion with Merricks Capital is subject to Regal Partners’ shareholder approval of the resolutions for the issue of the scrip consideration and the Regal options at the Extraordinary General Meeting to be held on Monday, 8 July 2024.
1 FUM for Merricks Capital is unaudited and includes Net Asset Values of Funds across various strategies managed by Merricks Capital and, on single asset investment opportunities, the committed capital from co-investors.
2 Pro forma group FUM (including 100% of Taurus Funds Management, Attunga Capital and Kilter Rural) is for 30 April 2024 and is approximate, rounded, unaudited and includes non-fee earning FUM.
3 Pro forma FUM across credit and royalty solutions (including 100% of Taurus Funds Management) is for 30 April 2024 and is approximate, rounded, unaudited and includes non-fee-earning FUM.Â