Pinnacle Investment Management Group (ASX:PNI) said that the strategic partnership of the National Pension Service of Korea and Townsend Group formalized a strategic investment in Metrics Credit Holdings, an affiliate company, according to a Friday Australian bourse filing.
The partnership plans to acquire a 4.17% interest in Metrics for AU$50 million, the filing added.
The proceeds will be used to support future growth for Metrics including potential acquisitions and developing investment strategies.
Price (AUD): $18.03, Change: $+0.090, Percent Change: +0.50%
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