M and A
Deals Of The Day: The Latest In Wealth Management M&A – Barings, AZ NGA, Oaktree
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Barings, the investment house, has acted as a joint lead arranger of A$345 million ($215 million) of debt supporting AZ Next Generation Advisory, a financial and accounting firm aggregator in Australia.
The AZ NGA investment marks Barings’ first deal with Oaktree in Australia.
The senior secured credit facilities follow a recent material investment in AZ NGA by funds managed by Oaktree Capital Management, alongside Azimut, a global group with expertise in asset management, wealth management, investment banking and fintechs.
Established in 2014, AZ NGA is an aggregator of minority and majority equity stakes advisory and accountancy firms in Australia. It has set up a network of more than 30 independently branded partner firms, collectively managing over A$15 billion of assets under advice as of August 2024.
