A rising Australian financial services company is planning a potential takeover or alliance in Japan, after Singapore’s state-owned fund Temasek agreed to buy a stake in its business for up to A$300mn ($198mn).
Alex Vynakor, founder and chief executive of Betashares, said the funds and pensions manager was looking to expand into Japan either by a partnership, a strategic investment or an acquisition. “Japan is a market of great interest to us,” he told the Financial Times. “We are assessing a number of options.”
The 15-year-old Sydney-based company said on Monday that Temasek Holdings, one of the world’s largest and most active investors, had agreed to acquire a minority stake. The business was well-placed to take advantage of structural changes in the international financial services sector, it added.