Asset management firm Pacific Current Group (ASX:PAC) has entered into an agreement to purchase a minority stake in Astarte Capital Partners LLP.
Astarte, founded in 2015, is a London-based investment manager focused on private markets real asset strategies.
They provide anchor/seed LP capital, working capital, and fundraising support to operating experts and emerging investment managers to support their growth.
PAC is investing $7.8 million, both to provide operating capital to Astarte and buy-out passive shareholders.
In exchange for its investment, PAC will receive approximately 40 per cent of Astarte’s net income.
Pacific Current Group (ASX:PAC) are trading 0.5 per cent lower at $6.16.