Forsyth Barr has assets under management of more than $30b. Photo: RNZ / Rebekah Parsons-King
Sydney-based private equity firm Mercury Capital has agreed to buy a 25-30 percent shareholding from existing shareholders.
Mercury Capital manages more than $2 billion in funds and specialises in providing growth capital to established businesses on both sides of the Tasman.
The offer is subject to shareholder approval and other conditions, with completion expected during August.
The company said the investment would be positive for the firm, staff and clients, and showed confidence in its strategy, market position and future growth.
"Mercury Capital shares our view that trusted personalised advice is more important than ever to help clients navigate a world of accelerating change, disruption and opportunity," Forsyth Barr managing director Neil Paviour-Smith said.
He said the proposed partnership was a natural next step in the company's ongoing evolution.
Mercury Capital's founder and about half of its staff are New Zealanders.
Forsyth Barr acquired another investment management business Hobson Wealth in 2023, boosting its staff to about 300, with assets under management of more than $30b.
The New Zealand investment sector has been through a shake up in recent years with a merger of various firms to form First Cape, of which Australian private equity firm Pacific Equity Partners owns about a third .
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