nabInvest has taken a controlling interest in Redpoint Investment Management, a quantitative-based equities investment management firm based in Sydney.
nabInvest chief executive Garry Mulcahy said the acquisition was indicative of the strong momentum and growth in the direct asset management business.
"We look forward to partnering with Redpoint's highly experienced team, who we are confident will achieve superior outcomes from both global and domestic markets for their institutional clients," Mulcahy said.
Redpoint chief executive Tim Batho, who has 23 years of experience in financial markets in the UK and Asia-Pacific, said his company included sustainability factors as a core element in its value proposition.
"Redpoint was established to create client-focused investment solutions that capture the tailored beta and quantitative
alpha requirements of institutional investors in Australia and around the world," Batho said.
Batho heads up Redpoint with chief investment officer Eric Smith, who previously played a key role in growing Vanguard Investments Australia from inception.
