Australia's Channel Capital Partners with Asset Management Veteran Des Mac Intyre to Expand in the U.S., Start Up Eolas Capital

Rhea-AI Summary

Channel Capital Pty Ltd. has partnered with investment veteran Des Mac Intyre to establish Eolas Capital, an investment management incubator in New York. This marks Channel's first U.S. subsidiary aimed at providing capital, platform, and expertise to emerging investment managers. Channel currently manages over A$16 billion in assets and aims to replicate its successful model in Australia within the U.S. market. Mac Intyre brings over 30 years of experience from firms like BNY Mellon and Bridgewater Associates, indicating a strong leadership foundation for Eolas Capital's growth.

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• Channel Capital partners with Des Mac Intyre to establish Eolas Capital in New York.
• Eolas Capital aims to support emerging investment managers with capital and expertise.
• Channel manages over A$16 billion, indicating strong financial backing.

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NEW YORK and SYDNEY, March 1, 2021 /PRNewswire/ -- Channel Capital Pty Ltd. (Channel), a leading Australian multi-affiliate investment management company servicing more than A$16 billion in assets, today announced it is partnering with Des Mac Intyre, former CEO of Mellon Investments Corporation, to form Eolas Capital, an investment management incubator in New York.

Eolas Capital—pronounced O-las—Channel's first subsidiary in the United States, will provide partner capital, business platform and industry expertise to promising investment talent in the U.S. and non-U.S. managers seeking to expand in the world's largest asset management market. Channel offers similar capabilities, including distribution, marketing and responsible entity services for a select group of investment management companies and their clients across the institutional, family office, high net worth and advisor-led investor spaces in Australia.

"Channel's platform has helped build durable investment managers in Australia for nearly a decade, and we're confident that with Des as our partner, we will expand successfully in the United States," said Glen Holding, Channel's co-founder and managing director.

"I'm excited and energized by the opportunity to embark on an entrepreneurial venture with Channel Capital," said Mac Intyre, managing director of Eolas Capital. "In Gaelic, Eolas means knowledge and experience, and that's exactly what we'll provide to boutique managers. Investment management is a dynamic industry where agile firms with differentiated investment ideas and operational excellence can thrive."

Mac Intyre brings more than 30 years of asset management experience to this new venture. Before Eolas Capital, he was chairman and CEO of Mellon Investments Corporation, a multi-asset solutions subsidiary of BNY Mellon with $613 billion in client assets as of Dec. 31, 2020. Earlier, he was BNY Mellon's CEO of U.S. asset management and chairman and CEO of Standish Mellon Asset Management. Mac Intyre also held executive positions for Bridgewater Associates, Pareto Partners and General Motors Asset Management.

Established in 2013, Channel has 30 employees globally, and is currently partnered with eight investment management firms.

New York-based Kudu Investment Management, LLC, a provider of permanent capital solutions to asset and wealth managers globally, acquired a minority stake in Channel Capital in 2020 and is helping finance Eolas Capital.

About Eolas Capital
Eolas Capital, based in New York, is an investment manager incubator providing partner capital, knowledge and experience to empower managers by enhancing focus, independence, growth and operational excellence.

Eolas Capital's goal is to allow managers to focus on alpha generation through capital provision and the ability to leverage Eolas' "Choice Set" Resource platform, which is designed to drive enterprise value and growth covering business strategy, business implementation, sales and marketing support.

About Channel Capital
Channel provides incubation, distribution, operational and responsible entity services to a select group of investment management firms and their clients across the institutional, family office, high net worth and advisor-led investor space. Channel's subsidiary entity, CIML, provides responsible entity services to a limited set of funds. Channel currently services more than A$16 billion in client assets. Learn more here: https://channel.capital.

About Kudu Investment Management
Kudu provides long-term capital solutions—including generational ownership transfers, management buyouts, acquisition and growth finance, as well as liquidity for legacy partners—to asset and wealth managers. Kudu was founded in 2015 and is backed by capital partner White Mountains Insurance Group, Ltd. (NYSE: WTM). For more information, please visit Kudu's website.

 

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SOURCE Eolas Capital

FAQ

What is the purpose of Eolas Capital formed by Channel Capital?

Eolas Capital aims to empower investment managers by providing partner capital, business platforms, and industry expertise for growth in the U.S. market.

Who is Des Mac Intyre and what is his role in Eolas Capital?

Des Mac Intyre is the managing director of Eolas Capital and brings over 30 years of asset management experience, previously serving as CEO of Mellon Investments Corporation.

What financial backing does Channel Capital have?

Channel Capital manages over A$16 billion in assets and received a minority stake investment from Kudu Investment Management, enhancing its financial support.

When was Eolas Capital officially announced?

Eolas Capital was officially announced on March 1, 2021.

What is the significance of Eolas Capital's establishment in the U.S.?

The establishment of Eolas Capital signifies Channel's entry into the U.S. asset management market, aiming to replicate its success from Australia.