CC Capital and One Investment Management (OneIM) → Insignia Financial
completedCC Capital and OneIM signed a Scheme Implementation Deed to acquire Insignia Financial, Australia's largest diversified wealth manager, at A$4.80/share in cash. Insignia formally delisted from the ASX on 29 April 2026.
The deal gives CC Capital and OneIM access to Australia's roughly A$4.1 trillion superannuation system through Insignia's scale and heritage, with plans to back Insignia's existing management team with capital and operational expertise rather than replace it.
The offer followed a competitive process — Bain Capital had bid $2.7bn in December 2024 before withdrawing — and Insignia's board recommended the final CC Capital/OneIM terms, which shareholders approved with 89.96% of votes in favour.
Not precisely detailed in available coverage; Insignia shares traded up toward the offer price as the scheme progressed through FIRB, APRA, court, and shareholder approval.
Read as a landmark private-equity consolidation of Australian wealth management, capping a competitive bidding process that also involved Bain Capital.
Deal mechanics
Not publicly disclosed; Carlyle led a separate $387m preferred equity contribution to help fund CC Capital's bid
Not publicly disclosed
All-cash scheme of arrangement at A$4.80 per Insignia share
Not publicly disclosed
Required and received approval from the Foreign Investment Review Board, the Australian Prudential Regulation Authority, the courts, and shareholders
PE consortium equity from CC Capital and OneIM, with Carlyle providing $387m of preferred equity financing
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