Aqualand’s arm buys ex-Mason Stevens PIM

Aqualand Group’s independent and fund management arm, AL Capital Holding, has acquired Peridot Investment Management (PIM), founded by Vincent Hua, who previously served for over a decade as chief executive of Mason Stevens Group.

Under the terms of the deal, Hua would be joining AL Capital as a key senior leadership team member to oversee the growth strategy, together with Wayne Mo, CEO, AL Capital and CFO, Aqualand Group.

AL Capital, which was founded in 2018, is an asset management platform which invests in equity across public and private markets with two products covering domestic and international equities.

The firm said this acquisition, together with a partnership with Equity Trustee (EQT), would enable the company to offer retail compliant products to its expanded client base.

The initial product line up will consist of ALC Global Credit Fund, ALC Active Australian Equity Fund and ALC Active Global Equity Fund. All three funds will be issued by EQT and the product issuer and AL Capital as the investment manager.

Warwick Smith, AL Capital chairman commenting on the move, said: “We look forward to welcoming Vincent and his team to AL Capital to not only bolster our service offering, but to also pursue our aligned values around giving back to the community.

“Both AL Capital and PIM are already major supporters of the Art Gallery of New South Wales, in particular the gallery’s new extension, the Sydney Modern Project. It’s great that we share similar commitments, and we can look to increasing them together.”

Hua, who has over 30 years’ experience in global banking and investments, having worked at senior levels at some of the worlds’ largest financial institutions, held positions as head of assets and liabilities management and head of management Science Group at Westpac Banking Corporation; general manager of the Financial Engineering Division at Shinsei Bank in Tokyo; global head of products and trading and deputy treasurer at the Commonwealth Bank of Australia; managing director and head of liquid market trading at Lehman Brothers in Sydney.

Hua was also one of the founders of 2020 Investment Management which subsequently became Mason Stevens Group and had served as its CEO and chief investment officer for over a decade.

He is one of the founders of Peridot Investments Group and is currently its executive director and chief investment officer.