Yorkway invests in Australia's One Investment

The GP invested between A$10 million and A$25 million ($7.5-$18.8 million) for a 25% stake, Greg Wang, an investment director at Yorkway, told AVCJ. Paul Batchelor, a co-founder of Yorkway, will become chairman of One Investment's board.

Yorkway plans to use its experience and network in Australia's financial services sector to help One Investment with its growth strategy. The company is Australia's largest independent provider of outsourced responsible entity and trustee services and delivers a comprehensive suite of services to fund managers, aiming at newly established and boutique funds. It hopes to appeal to fund managers entering Australia for the first time, and will leverage Yorkway's contacts for that purpose.

"From an investment thesis point of view, One Investment catches us on a very attractive basis in terms of the overall investment fund flow coming to Australia, and it provides a compelling value proposition in respect of the fund flow," Wang said.

Yorkway was founded in 2010 as a transaction advisory business that also commits capital to deals on behalf of third-party investors. The firm has made several co-investments with major PE houses, including helping CHAMP Ventures to buy a majority stake in Australian quantity surveying company BMT Tax Depreciation last year.

Recently Yorkway has also begun to pursue its own deals as a solo investor, seeking both minority and majority stakes, depending on the target company. The GP raises capital for its investments on a deal-by-deal basis, targeting high net worth individuals and family offices that it feels are underserved by traditional private equity strategies.

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• Topics
• Australasia
• Financials
• Expansion
• Australia
• Financial Services
• Growth capital