Navigator Global Investments (ASX:NGI) - Managing Director of subsidiary Lighthouse Investment Partners, Steven Satenstein
Managing Director of subsidiary Lighthouse Investment Partners, Steven Satenstein
Source: Steven Satenstein/LinkedIn
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  • Navigator Global Investments (NGI) signs a definitive agreement to acquire a 32 per cent ownership interest in Longreach Alternatives
  • NGI will acquire the interest from non-employee shareholders in the Australia-based investment firm using existing financial resources
  • Navigator says it expects the transaction to close on September 30 and contribute to earnings immediately
  • Company shares are up 0.83 per cent to $1.38

Navigator Global Investments (NGI) has signed a definitive agreement to acquire a 32 per cent ownership interest in Longreach Alternatives.

NGI will acquire the interest from several non-employee shareholders in Longreach — an Australia-based investment firm that provides whole-of-business funds management support and infrastructure to alternative investment managers.

In a statement today Navigator said it would make the investment using existing financial resources and expected the transaction would contribute to earnings immediately.

NGI’s chairman Michael Shepherd commented on the news.

“We are excited about this opportunity to partner with a diversified and growing firm like Longreach, which we believe allows us to further broaden Navigator’s business in Australia in a meaningful way,” he said.

Longreach CEO Samuel Mann explained the firm was launched in 2016 to develop and deliver high quality and differentiated alternative investments to clients.

“This partnership between Navigator and Longreach will help us continue our mission of providing differentiated investment solutions to a broad market which we believe will benefit from such capabilities,” Mr Mann said.

The transaction is expected to close on September 30, with no anticipated near-term impact on NGI’s dividend.

Navigator reported US$20.9 million (A$28 million) across Lighthouse Partners and its strategic development portfolio as at June 30.

Shares were up 0.83 per cent to $1.38 each at 1:20 pm AEST.

NGI by the numbers
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