Pinnacle’s $100.5m vote of confidence in Metrics

Mike Taylor

Managing Editor and Publisher

5 May 2026

Pinnacle Investment Management has delivered a vote of confidence to Metrics Credit Holdings agreeing this week to acquire an additional 6.80% of the business and effectively restoring its equity interest to 35%.

Announcing the move to the Australian Securities Exchange (ASX) Pinnacle noted that the 35% holding is broadly equivalent to when Pinnacle acquired its initial equity interest in Metrics in 2017.

It said the cost of the transaction will be approximately $100.5 million and will be funded from existing balance sheet capacity, with 75% payable on completion and the remaining 25% 12 months from the date of agreement

The announcement said that, concurrently, the National Pension Service of Korea, via its strategic partnership with Townsend Holdings, had agreed to purchase a further 6.37% of existing equity in Metrics at the same implied valuation, taking its shareholding to 9.9% subject to Foreign Investment Review Board (FIRB) approval.

The announcement noted that the transaction relates to the shareholding held by Metrics founder Graham McNamara with the vendor being HRM Holdings Pty Ltd as trustee of the McNamara Family Trust.

Metrics announced in the middle of last year that McNamara would be retiring in the first half of this year with all other Metrics executives retaining their equity positions.

Commenting on the transactions, Metrics managing partner, Andrew Lockhart said the firm was pleased to confirm the agreed transition of equity in the business to existing strategic shareholder partners

Pinnacle managing director, Ian Macoun said the firm was proud to have worked alongside the Metrics team over the past decade as “Group has grown to become one of the Asia Pacific region’s largest alternative investment managers”.

“We continue to have enormous confidence in the ongoing domestic and international growth of Metrics, particularly as more investors recognise the benefits that can be delivered by experienced, highly diversified and large-scale private markets managers,” he said.