BetaShares Enters Next Phase of Growth With Strategic Investment from TA Associates
March 07 2021 - 4:23PM
Business Wire
Investment Expected to Accelerate Growth and
Drive Expansion of BetaShares’ Offering in Australia and
Overseas
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.
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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.”
About BetaShares
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
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Media enquiries:
For BetaShares Rashmi Punjabi Honner +61 2 8248 3734
rashmi@honner.com.au
For TA Associates Marcia O’Carroll TA Associates +1
617-574-6796 mocarroll@ta.com
Philip Nunes BackBay Communications +1 617-391-0792
phil.nunes@backbaycommunications.com
Stephen Fishleigh BackBay Communications +44 203-475-7552
stephen.fishleigh@backbaycommunications.com