Pinnacle Restores 35% Stake in Metrics Credit Holdings with $100.5m Buy

Pinnacle Reclaims Significant Equity in Metrics Credit Holdings

Pinnacle Investment Management Group Limited (ASX:PNI) is doubling down on its commitment to Metrics Credit Holdings by snapping up an additional 6.8% equity stake for roughly A$100.5 million. This move restores Pinnacle’s total holding to about 35%, a level consistent with its initial investment in Metrics back in 2018. The sizeable outlay will be funded from Pinnacle’s existing balance sheet capacity, with a staggered payment structure of 75% on completion and the remainder due 12 months later.

Korean Pension Fund Expands Strategic Position Alongside Pinnacle

Concurrently, the National Pension Service of Korea (NPS), through its partnership with Townsend Holdings LLC, is set to acquire an additional 6.37% stake in Metrics, increasing its shareholding to 9.9%. This transaction is contingent on approval from the Foreign Investment Review Board (FIRB) and is priced on the same valuation basis as Pinnacle’s purchase. The dual equity transactions are interlinked and anticipated to close between the second and third quarters of 2026.

Leadership Transition Marks Shareholder Shift

The shares being sold are held by HRM Holdings Pty Ltd, trustee for the McNamara Family Trust, associated with Graham McNamara, who is retiring in the first half of 2026 after 14 years with Metrics. While McNamara steps back from an executive role, he will maintain an advisory position within the business. Other Metrics executives remain committed to their equity stakes, signalling continuity in management despite the ownership reshuffle.

Confidence in Metrics’ Growth Trajectory

Metrics’ Managing Partner and CEO Andrew Lockhart highlighted the strategic nature of the equity transition, praising Pinnacle and the NPS/Townsend partnership for their ongoing support. Pinnacle’s Managing Director Ian Macoun echoed this optimism, underscoring confidence in Metrics’ expansion both domestically and internationally as private markets continue to attract investor interest. This renewed backing comes on the heels of Pinnacle’s recent financial manoeuvres, including a major increase in its debt facility, which bolstered the group's capacity to fund growth initiatives and acquisitions like the Pacific Asset Management deal completed in April 2026.

These developments reinforce Pinnacle’s strategy of deepening stakes in high-growth alternative investment managers, leveraging strong balance sheet flexibility enhanced by the recent debt facility increase and regulatory clearances for acquisitions such as Pacific Asset Management deal approvals.