)
Global advisory group Acclime has been given the green light to make its second Australian acquisition in the space of four months after gaining Foreign Investment Review Board (FIRB) approval to buy early-stage fund incubator Boutique Capital for an undisclosed sum.
The move is aimed at boosting the Hong Kong-headquartered company's capabilities in fund establishment and administration, as well as its positioning in Australia and New Zealand just months after announcing the acquisition of accounting and business advisory firm Bedford.
This year Acclime has also acquired The Advisory Group and Rockburgh Fund Services in New Zealand, while in 2023 it bought Melbourne-based advisory firm The CFO Solution in 2023.
Founded in 2017, Boutique Capital helps investment managers establish and operate successful wholesale fund structures, offering fixed-cost, turnkey solutions as well as ongoing support across a range of vehicles, including MIS (managed investment schemes), unit trusts, ESVCLPs (early stage venture capital limited partnerships), SPVs (special purpose vehicles), and bare trusts.
The company has deep experience across asset classes spanning property, private credit, international equities, digital assets, and venture capital, "enabling both early-stage and established fund managers to launch and scale with confidence".
"We've always aimed to provide clients with responsive, tailored fund solutions," says Boutique Capital managing director Tim Baker.
"Becoming part of Acclime gives us the scale to do more for our clients while giving them access to enhanced governance and cross-border advisory capabilities."
Acclime's group CEO Izzy Silva says the agreement represents "another transformative step" for the group in Australia.
"By bringing exceptional specialist firms into our fold, we're expanding our capabilities and empowering our clients to thrive both locally and throughout the region," Silva says.
Boutique Capital will now operate under brand of Acclime, which notes the acquired company's leadership and team remain in place as it moves into the group's North Sydney office.
"Boutique Capital brings specialist fund knowledge and a strong client-centric culture," adds Acclime's regional managing director for Australia and New Zealand, Randolph van der Burgh.
"They are a great fit for Acclime, and we are delighted to welcome the team into our Asia-Pacific fund services group."
)
