LONDON, UK: Regal Partners Limited, an alternative investment manager listed on the ASX, has announced that it has withdrawn its offer to acquire Pacific Current Group Limited, a global multi-boutique asset management firm.
Regal Partners had made a confidential and non-binding indicative proposal to buy all the shares of Pacific Current in March 2023, and reaffirmed its offer in September 2023.
However, Regal Partners said that it was not satisfied with the level of engagement and cooperation from the Pacific Current board, and that it had little confidence in the process being run by Pacific Current.
Regal Partners said that it still believed that a merger with Pacific Current could create strategic benefits for both companies and their affiliates, and that it remained a substantial shareholder in Pacific Current.
Regal Partners also said that it would continue to pursue its growth strategy of providing alternative investment strategies to its clients, and that it would evaluate other opportunities as they arise.
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