Advising on the sale of a minority stake in Fulcrum Asset Management to Fidante

We are advising an outgoing founder member of Fulcrum Asset Management on the sale of a substantial minority stake to global investment management firm Fidante, part of Challenger Limited, the ASX-listed investment management company. Fidante is also being granted exclusive distribution rights across Australia, New Zealand and Asia.

Founded in 2004 and headquartered in London, Fulcrum is an independent asset management firm managing £6.2bn. The firm is primarily a liquid alternatives manager specialising in macro strategies while also offering illiquid alternatives in the UK pension market.

For Fulcrum, the transaction provides a successful exit for co-founder Andrew Stevens, who retired as CEO in December 2022. For Fidante, the deal supports its growth strategy, expands its alternatives offering, and secures exclusive distribution rights for Fulcrum’s products across the Asia-Pacific region. The transaction is conditional on regulatory approval and other matters.

Our team consisted of corporate partner Paul Cliff and corporate associate Parmjit Singh.

Paul Cliff added: “It is a pleasure to support Andrew Stevens through this important transition. His legacy at Fulcrum is substantial, and this deal reflects the strength of the business he helped build but also ensures its continued success under a new strategic partnership with Fidante. Our team has strong experience in cross-border transactions that enables us to work with the other parties’ advisers to deliver a smooth and commercially sound outcome.”