Warwick acquires Cadiz from JSE-listed Stellar Capital Partners
Warwick Wealth has acquired the asset management business of Cadiz from JSE-listed Stellar Capital Partners, for an undisclosed fee.
The acquisition of the Cadiz business lifts Warwick’s assets under management and administration to over R30 billion.
“We have recently reviewed our future strategic direction and focus within the greater Stellar Group and have been looking for the right strategic partner for Cadiz and the sale of Cadiz Asset Management to Warwick represents a very positive and important step for the future of Cadiz,” said Stellar CEO Peter van Zyl.
“We are delighted with the deal to acquire the business of Cadiz and to partner with Stellar Capital going forward. Cadiz is a company that I, and indeed the broader financial services industry, have respected for many years. The deal will add value to Warwick in three respects.
“Firstly, it will add further quality asset management professionals with a successful and proven track-record to our team. Secondly, the Cadiz suite of funds will add to our existing suite of funds and portfolio offering. Thirdly, the acquisition will take Warwick into the retail and institutional asset management space, which forms part of our three-year strategic plan,” said Warwick CEO, Ian Kilbride.
“The Cadiz acquisition is the first of a number of deals we hope to conclude in the coming 36 months,” he said.
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