Emigrant Partners has made a minority investment in Koda Capital, an Australian financial advice firm for high-net worth clients. No financial terms were disclosed. MHB Advisors was financial advisor to Koda on the transaction.
NEW YORK, May 11, 2022 /PRNewswire/ — Koda Capital (“Koda”), a leading Australian independent financial advice firm for high-net-worth clients, today announces that Emigrant Partners will become a strategic minority investor in Koda. Koda’s partners will continue to own 80% of the economics of the business.
Koda has successfully grown to be a leading independent wealth management business in Australia with 39 Partners, and 28 advisors managing AUD $10bn of client assets. Koda was established in 2014 with a founding principle of providing independent financial advice free from conflicts of interest, with no vertical integration or fees earned from products.
Emigrant Partners is a specialist capital and advice partner with a strong track record of making non-voting, minority investments in leading independent wealth management businesses. Emigrant Partners has minority investments in 18 firms that collectively advise on over USD $90 billion of client assets. Koda is Emigrant Partners’ first direct partnership outside of the US.
As a strategic investor, Emigrant Partners will provide valuable insights and know-how for Koda in areas that include best practice in technology and operations, financial advisor acquisition strategy and funding, wealth advice market insights, as well as peer-based networks and professional development for the Koda team. Emigrant Partners will also provide growth capital to support the acquisition of small-scale, high quality financial advice businesses aligned to Koda’s values and funding structures for equity recycling to support new equity partners joining the firm.
Koda’s financial advisors were MHB Advisors, a specialist investment bank to the asset and wealth management industries, with legal advice from Kardos Scanlon, the specialist cross-border corporate law firm. Emigrant Partners’ legal advisor was Clayton Utz, a leading Australian law firm.