Bendigo-led consortium invests in Akatsuki Financial
A consortium led by Bendigo Partners has made a strategic investment in Akatsuki Financial Group, a Japan based mid-sized financial services firm, specializing in retail brokerage and asset management. Financial details were not announced.
Other investors include Monex Group, an online financial services provider, and content and games developer Aeria.
Bendigo and Akatsuki’s senior executives are already familiar with each other, having previously worked together building E*TRADE in the US and Japan. Backed by the consortium, Akatsuki Financial, which is listed on the Osaka Stock Exchange, will broaden its product line-up and also seek to expand overseas.
Dominic Henderson, Bendigo’s lead partner in Japan and former branch manager of Macquarie Securities Japan, said in a statement: “The retail financial services industry in Japan is very fragmented and Bendigo and Akatsuki see opportunities for consolidation and the introduction of new strategies and products.”
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