TA Associates made a significant investment in BetaShares, an Australian ETF manager with more than $16 billion in assets under management. Financial terms were not disclosed. As part of the transaction, TA acquired shares held by Mirae Asset Financial Group and other minority investors in BetaShares.
BetaShares, a leading Australian ETF manager with more than $16 billion in assets under management, today announced that it has received a significant investment from TA Associates, a leading global growth private equity firm, to fuel a major expansion of its business activities. Financial terms of the transaction were not disclosed.
BetaShares develops, launches and manages ETFs that are traded on the Australian Securities Exchange (“ASX”). BetaShares offers one of the country’s largest and most diverse range of ETFs, with funds covering Australian and international shares, fixed income, cash, currencies, commodities and alternative strategies.
“We are excited to welcome TA as an investor as we enter this next phase of our growth,” said Alex Vynokur, Founder and Chief Executive Officer of BetaShares. “Over the past 10 years, BetaShares has developed a market-leading position in the Australian ETF industry, helping democratise investing by expanding choice, lowering costs and making quality investments more accessible than ever before. Looking at the decade ahead, we have a vision for the company to continue developing into a leading, independent Australian financial services business, offering a wide range of quality solutions to help our clients reach their financial goals.”
As part of the transaction, TA has acquired the shares held by Mirae Asset Financial Group and other minority investors in BetaShares.
“We would like to take this opportunity to thank the team at Mirae Asset Financial Group and, in particular, Founder and Global Investment Strategy Officer, Mr. Hyeon Joo Park, for their support and confidence in our business over the years,” added Mr. Vynokur. “We are proud to have made a contribution to the impressive growth of Mirae Asset Financial Group.”
“TA has a long history of investing in the financial services industry, having previously supported the growth of a number of leading asset management firms globally, and we are honoured to have the opportunity to invest in BetaShares to help further the success of this great business,” said Edward Sippel, head of TA Associates Asia Pacific Ltd. and a Managing Director at TA.
“We believe that BetaShares’ sharp focus positions it to take advantage of significant opportunities in the market, particularly as the broader financial services industry is undergoing a period of disruption and change. We look forward to partnering with BetaShares’ management team to help further accelerate the company’s growth by leveraging its existing, highly-regarded offering, expanding its product depth, and enhancing its geographic footprint through acquisitions and strategic investments.”
Mr. Vynokur concluded: “This is an important milestone for BetaShares. We believe that the next stage of growth in our business is set to provide tremendous opportunities for our clients, our team and our industry partners.”
BetaShares is a leading Australian manager of exchange traded products (“ETPs”) traded on the Australian Securities Exchange. BetaShares offers the broadest range of ETPs on the ASX, covering Australian and International equities, fixed income, cash, currencies, commodities, and alternative strategies. BetaShares currently has over $16 billion in assets under management.
About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – financial services, technology, consumer and business services and healthcare – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, the firm employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com