Mergers & Acquisitions / Joint Ventures

Nikko AM merges with Australia’s Tyndall to extend Asian reach


 Blair Pickerell
Tokyo-based Nikko Asset Management is acquiring Australian fund management firm Tyndall Investments, which has $24.5 billion in AUM, as part of the Japanese firm’s plan to expand across Asia. The acquisition will take Nikko AM’s assets under management to $145 billion. 

Tyndall is being sold by Brisbane-based Suncorp Group – one of Australia and New Zealand’s largest financial services firms – for $78 million. The merger will enable Nikko AM’s Asian and emerging markets funds to be offered in Australia, while Tyndall’s range of equity and fixed interest income products will be distributed