Magellan Says Barrenjoey Deal Lifts Private Markets Opportunity

Magellan Financial Group Ltd.’s chief executive said its merger with Barrenjoey Capital Partners will allow the Australian firm to provide its customers with more offerings in private markets.

The deal is on track to close around the middle of this year and “absolutely makes us stronger for the future,” Sophia Rahmani said at the Bloomberg Forum for Investment Managers in Sydney on Tuesday. “It will help us be able to provide more to our clients around private markets and lots more things.”