Pacific Current invests in Astarte Capital Partners
Pacific Current Group, a global multi-boutique asset management firm, has entered into an agreement to purchase a minority stake in Astarte Capital Partners (Astarte).
Astarte, founded in 2015, is a London-based investment manager focused on specialist real asset strategies. Astarte’s model is distinctive in that it provides both anchor and working capital to operating experts and emerging investment managers to support their growth.
As part of the transaction, PAC provides operating capital to Astarte and buys-out passive shareholders. Astarte’s management ownership will increase significantly as a result of this transaction. In exchange for its investment, PAC will receive a significant minority stake. Completion of the investment is subject to regulatory approval in the United Kingdom, which is expected to be obtained within the next four to six weeks.
PAC CEO & CIO, Paul Greenwood, says: “PAC is pleased to partner with Astarte given its exceptional team and differentiated investment strategy. Stavros and Teresa are true innovators in the private markets space, and we are excited to help them build on what they have already created.” Greenwood added, “We believe Astarte’s business is at an inflection point and we expect 2021 to be a breakout year for the firm.”
Astarte co-founders, Dr Stavros Siokos and Teresa Farmaki, say: “We are delighted to be partnering with PAC, a great asset management firm with common values and principles, and a clear vision for the evolution of the asset management industry. We expect this partnership to be a catalyst for an exciting new chapter of growth for Astarte.”