NZX completes QuayStreet acquisition

The acquisition, through NZX’s wholly-owned subsidiary, Smartshares, is aligned with NZX Group’s strategy to capture complementary opportunities across its funds management, wealth technologies and markets businesses, the company says in a statement.

"The acquisition of the high-growth fund – aligned with a powerful private wealth network – will drive scale in Smartshares and complement its existing systematic and passively managed product offering.

"The acquisition, which adds $1.6 billion in funds under management, is being funded from new debt facilities with existing lenders and the issuing of NZX shares."

The financial impact of the deal is included in NZX’s FY2023 operating earnings guidance.