Private equity takes significant stake in BetaShares

Private equity has taken a significant stake in Australian specialist exchange traded fund (ETF) manager BetaShares.

BetaShares announced today that private equity player, TA Associates had taken what it described as a “significant” stake in the business.

The announcement said TA had acquired the shares held by Mirae Asset Financial Group and other minority investors in the BetaShares business.

Confirming the move, BetaShares founder and chief executive, Alex Vynokur, referenced the private equity investment as occurring in line with the next phase in the company’s growth.

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Source: Private equity takes significant stake in BetaShares | Money Management