Navigator Global Investments (ASX:NGI) completed its acquisition of a portfolio of net revenue share interests in alternative investment managers from funds managed by Stable Asset Management for $190 million, according to a Thursday filing with the Australian bourse.

Navigator issued about 58.7 million ordinary shares as scrip consideration to Stable Asset Management's limited partners and management, per the filing.

The company said the total consideration was cut from a previous $195 million due to a change in the final deal composition, resulting in the final cash consideration being $5 million lower than originally planned.

The acquired portfolio, which comprises 17 net revenue share interests in alternative asset managers, has been named the NGI Stable Growth Portfolio.

Additionally, Navigator and Stable Asset Management entered a long-term partnership for the management and monitoring of the NGI Stable Growth Portfolio. Navigator will pay Stable a flat fee of about $1.6 million per year for an initial six-year term, after which the fee will be calculated based on the number of managers in the portfolio.

Navigator Global shares fell 1% in recent Thursday trade.