Industry Updates

BlackRock buys Hong Kong firm’s Panama Canal port stake

A Hong Kong-based conglomerate has sold its stake in a number of ports around the Panama Canal to a consortium of investors including BlackRock.

AMP licensees re-brand as Akumin

Entireti will rebrand the former AMP licensees it acquired last year to Akumin.

AZ NGA secures $345 million private credit deal from Barings

Investment manager Barings will be joint lead arranger of a $345 million of senior secured credit facilities supporting AZ Next Generation Advisory.

Australian and Cook Islands governments sign MoU on super portability

The Australian government has signed a Memorandum of Understanding with the Cook Islands government on superannuation portability.

UniSuper launches digital advice platform with Ignition Advice

UniSuper has partnered with Ignition Advice to create a new digital advice platform which will be rolled out from June this year. 

UK pension scheme NEST takes 10pc stake in IFM parent company Industry Super Holdings

UK defined contribution pension scheme NEST will take a 10 per cent ownership stake in IFM parent company Industry Super Holdings and commit to significant ongoing investment in the asset manager.

Federal Court dismisses BUSSQ’s application

The Federal Court of Australia has dismissed the judicial review application of industry fund BUSSQ. 

Apt Wealth Partners launches legal services offering

Financial advice firm Apt Wealth Partners has announced the launch of Apt Wealth Legal Services which will integrate legal expertise with wealth management and financial planning to provide comprehensive advice and help clients with holistic solutions. 

Insignia appoints chief technology officer

ASX-listed wealth manager Insignia Financial has confirmed the appointment of Damien O’Donnell as chief technology officer.

Iress sells superannuation business

Listed technology group Iress will sell its superannuation administration business to Apex Group, a company that offers a range of financial services and solutions.

CC Capital sweetens the deal for Insignia shareholders

Insignia Financial has received another sweetened offer from CC Capital, offering $4.60 cash per share to acquire the wealth giant.

MUFG Pension & Market appoints tech consultant to enhance products

MUFG Pension & Market Services has enlisted a tech consultant to help expand its retirement service arm that provides super fund administration. 

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