Omni Bridgeway (AU:OBL) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Omni Bridgeway Limited has entered a significant transaction with Ares Management Corporation to create a continuation fund, enhancing its capital-light model by offloading a 70% stake in over 150 investments for approximately A$310 million. This strategic move provides Omni Bridgeway with a strong cash position and additional management fees, while retaining a 30% interest to benefit from future profits. The transaction also simplifies financial reporting and strengthens its position as a leading fund manager for legal assets.
For further insights into AU:OBL stock, check out TipRanks’ Stock Analysis page.