Strategic partnership with Taurus Funds, Group FUM to $8.0 billion
Regal Partners Limited (ASX:RPL) is pleased to announce it has entered into an agreement to acquire 50% of the issued ordinary shares of Taurus Funds Management, a specialist provider of financing solutions to global mid-tier and junior mining companies.
Established in 2006 and headquartered in Sydney, Australia, Taurus currently manages $2.3bn in committed and drawn capital from its client base of predominantly US institutional investors and pension funds. The acquisition will further expand Regal’s existing capabilities across alternative investment strategies, specifically in credit and resources royalties.
On completion, Regal Partners’ group funds under management will increase to $8.0 billion¹ on a pro forma basis.
"Taurus represents an exciting and accretive opportunity for Regal Partners to further expand its existing investment capabilities across the global resources sector. The founders of Taurus have built a highly experienced 23-person team, with a strong performance track record and proven fund-raising capability across blue-chip, US-based institutional investors. While the Taurus funds will continue to operate under the management of its existing investment team, we look forward to exploring possible ways to collaborate in the future, leveraging the extensive networks and deal origination pipelines across both businesses. The addition of Taurus further supports Regal Partners’ aim to be the leading provider of alternative investment strategies in Australia and Asia, as well as increasing the group’s exposure to attractive offshore markets, including North America.”
- Regal Partners Chief Executive Officer Brendan O’Connor
Regal Partners expects the acquisition to be accretive to its earnings per share in 2024, pre any synergies. The transaction will be fully funded by cash and investments on balance sheet and is expected to complete in early November 2023.
1 Pro forma funds under management (FUM) data is for 30 September 2023, includes 100% of Taurus Funds Management and is approximate, rounded and has not been audited. FUM for the group (including 100% of Kilter Rural, Attunga Capital and Taurus Funds Management) includes non-fee earning funds.