Sydney-based private asset manager PAC Capital has acquired Clearwater Portfolio Management.

Founded in 2018, PAC Capital is a privately-owned, independent asset and wealth manager of diversified portfolios for financial advisors and direct investors.  It also manages two hedge funds dedicated to esports and innovation.

Clearwater Portfolio Management is a boutique investment company that was created as a direct response to the Global Financial Crisis. It is based in Byron Bay.

PAC Capital chief investment officer, Clayton Larcombe, explained the acquisition was an outcome of the natural alignment of the two businesses.

“There was a lot of interest in the market for the Clearwater business, and I am glad that Gary saw PAC Capital as the preferred partner,” he said.

“I look forward to working with Gary and the Clearwater team, taking our diversified portfolios to new heights.”