Specialist wealth and asset management investor Emigrant Partners has bought a minority stake in Australian financial advice firm Koda Capital for an undisclosed sum.
Koda’s partners will continue to own 80% of the business.
The Aussie firm has 39 partners and 28 advisers managing A$10bn (£5.64bn, $6.86bn, €6.58bn) of client assets.
Koda is Emigrant Partners’ first direct partnership outside of the US.
Karl Heckenberg, chief executive of Emigrant Partners, said: “We are very excited to be joining the Partners of Koda as a minority investor in their business, our first investment outside the US.
“Koda has successfully established a high-quality independent advice business in the large and growing wealth market in Australia – a market that we see as very attractive.
“Our minority investments in employee-owned, founder-led firms enable our partner firms to continue to grow while maintaining a culture of trust, ownership and service excellence that draws top-tier client and advisors to their firms.”