Fund Company Updates

Cboe Global Markets acquires Chi-X

A definitive agreement has been reached between Chi-X Asia Pacific and Cboe Global Markets. Chi-X is Australia’s biggest exchange competition to the Australian Stock Exchange (ASX). The transaction is expected to be finalised later in 2021, subject to regulatory approvals. The acquisition offers Cboe a single point of entry to key Australian and Japanese markets.

Deloitte acquires Rice Warner

Rice Warner, one of Australia’s largest independent actuarial firms, has been bought by Deloitte Australia. Rice Warner’s chief executive, Andrew Boal, will become a consulting partner at Deloitte. The companies will officially join on 1 May 2021.

AMP and Ares deal unsure

AMP’s exclusivity period with Ares Management makes uncertain the Ares acquisition of AMP Capital’s private markets business. Both firms are looking to a joint venture where Ares takes on the management control of the private markets business, while AMP retains a 40 per cent stake. With the 30-day exclusivity period over, there is no certainty that the transaction will go ahead.

Sunsuper and APSS explore merger

The Australia Post Superannuation Scheme (APSS) and Sunsuper have signed a non-binding heads of agreement with Sunsuper to explore a merger between the two superannuation funds. APSS has been closed to new Australia Post employees since 2012, sitting with around 30,000 members.