By Stuart Condie

SYDNEY--Australia's Pinnacle Investment Management agreed to acquire up to 13% in Japan's Advantage Partners in a deal valuing the diversified private-markets platform at about US$1.19 billion.

Pinnacle on Wednesday said that it would pay 92 million Australian dollars, or about US$59.7 million, for an initial 5% holding. It has an option to acquire a further 8% at a similar valuation within three years.

The Australian investment manager, which has recently focused on acquiring strategic stakes in global peers and asset-management platforms, said that Tokyo Century would also invest in what it called Japan's largest independent, locally grown diversified private-markets platform.

"We have made great progress in exporting our unique multi-affiliate model globally. This transaction underscores our ability to partner with world-class teams with unique platforms in highly attractive asset classes and geographies," Pinnacle Managing Director Ian Macoun said.

Pinnacle will fund the acquisition from existing cash and investments, and expects to complete the deal in January. Advantage Partners' managing partners and staff will retain a majority stake, Pinnacle added.

Pinnacle said that Advantage Partners has strong organic growth potential, with large raises expected to help lift group funds under management from about US$3 billion to more than US$6.5 billion over the next 12 months.

Pinnacle said that the combination of its global distribution with Tokyo Century's networks and balance sheet commitment would set up Advantage Partners for accelerated growth. Pinnacle will also enter a global distribution agreement with Advantage Partners.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

October 21, 2025 18:14 ET (22:14 GMT)

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