Pinnacle Investment Management Group has agreed to acquire an additional 6.80% stake in Metrics Credit Holdings, restoring its equity interest to approximately 35% and representing a significant strategic commitment to the alternative investment manager. The acquisition, valued at approximately A$100.5 million, will be funded from existing balance sheet capacity, with 75% payable upon completion and 25% due twelve months from the agreement date.
This transaction marks an important transition at Metrics as founder Graham McNamara proceeds with his planned retirement after 14 years building the business. The vendor is HRM Holdings Pty Ltd as trustee of the McNamara Family Trust. Importantly, all other Metrics executives are retaining their equity positions, suggesting stability within management as the business transitions away from founder leadership.
Pinnacle’s decision to return its shareholding to its original 35% level signals confidence in Metrics’ growth prospects. Over the past decade of Pinnacle’s ownership, Metrics has established itself as one of the Asia Pacific region’s largest alternative investment managers. The transaction reflects strong institutional belief in the business’s competitive positioning and ability to capture growing international capital flows into private markets.
Concurrent with Pinnacle’s acquisition, the National Pension Service of Korea has agreed to purchase 6.37% of Metrics at the same valuation through its partnership with Townsend Holdings LLC, bringing NPS’s total shareholding to 9.9%, subject to Foreign Investment Review Board approval. This participation by a major international pension fund reinforces Metrics’ institutional quality and appeal to sophisticated global investors.
The two transactions are interdependent and expected to complete in the second or third quarter of 2026. The staggered payment structure, with 25% deferred for twelve months, reflects Pinnacle’s balance sheet discipline while maintaining exposure to Metrics’ future performance through the extended settlement period.
The succession arrangement demonstrates professional business transitions. McNamara will assume an advisory role, enabling knowledge transfer while reducing founder concentration risk. The retention of existing management indicates the business operates as an institutional enterprise rather than a personality-dependent operation, a positive signal for sustainability and growth.
Investors tracking alternative asset consolidation in Asia Pacific should monitor completion of these interdependent transactions in Q2-Q3 2026. This announcement has been flagged as price sensitive and material by the ASX.
View the full ASX announcement (PDF)
About Pinnacle Investment Management Group Limited (ASX: PNI)
Pinnacle Investment Management Group Limited is a multi-affiliate investment management company headquartered in Sydney, Australia. It provides seed funding, institutional and retail distribution services, and infrastructure support to a network of independent investment boutiques globally. The company facilitates the growth and development of its affiliated investment managers worldwide.
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