The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Kudu-Backed Multiboutique Builds an AM Incubator Not Rated 4.0 Email Routing List Email & Route  Print Print
Friday, March 5, 2021

A Kudu-Backed Multiboutique Builds an AM Incubator

Reported by Neil Anderson, Managing Editor

An Australian, multi-boutique asset manager, backed by a U.S. venture capital firm with a focus on asset management, is launching a U.S. asset management incubator, led by a veteran asset management chief.

Desmond "Des" Mac Intyre
Eolas Capital
Managing Director
On Monday, Glen Holding, co-founder and managing director of Channel Capital Pty Ltd., unveiled the Sydney-based firm's new, New York City-based subsidiary: Eolas Capital. Des Mac Intyre, who most recently served as chairman and CEO of Mellon Investments Corporation, will lead Eolas as managing director.

Channel (which is backed by Kudu, a New York-based, asset management-focused VC firm) now has eight boutiques, 30 people, and A$16 billion (about $12.3 billion) in AUM.

"Channel's platform has helped build durable investment managers in Australia for nearly a decade, and we're confident that with Des as our partner, we will expand successfully in the United States," Holding states.

As for Eolas, its mission will be helping small U.S. asset managers (and foreign asset managers coming into the U.S.) grow their business. Eolas will provide working capital and infrastructure (compliance, distribution, operations, and the like) so that the boutiques it supports "can focus on alpha generation," Mac Intyre explains. Eolas will "get a revenue share" and a "contingent option," but the focus is on letting the boutiques "retain equity and independence."

"This is not a lock-in," Mac Intyre tells MFWire. "Managers retain full autonomy and choice."

In terms of what they're looking for, Mac Intyre says he's interested in "firms that have a discrete specialist capability," and while he'll consider startups (especially with a "high pedigree team,") he's mostly interested in existing firms that want to grow. Specializations he might be interested in include: specialist fixed income, ESG, hedge funds, impact investing, and others with "unique and diversifying streams."

"I'm not going to get in bed with a large cap asset manager," Mac Intyre says.

On a related note, Mac Intyre notes that the Eolas team "will not duplicate" relationships with its boutiques: they want firms that are not competing with each other in the same niches.

Mac Intyre says he's starting to build out his team. Down the line he imagines possible bringing on staff from some of the boutiques they support, for firms looking to boost opportunities for their staff from non-investment areas like distribution and operations.

"I'm an entrepreneur at heart, and I'm excited by the opportunities," Mac Intyre says.

In addition to leading Mellon Investments Corporation, Mac Intyre previously held leadership roles at Bridgewater, Standish Mellon, Pareto Partners, Deutsche AM, Asset International, and GM AM. He also worked at Russell and the LSE. He is an alumnus of the University of Exeter and of University College Dublin. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. 2024 ICI Leadership Summit, May 21-23
  2. MFDF webinar - Mutual Fund Director Compensation: the MPI Annual Survey (2024), May 21
  3. Schwab Institutional Investor Day, May 22
  4. IMEA webinar - Opportunities in the Evolving Wealth Management Market, May 22
  5. Raymond James 2024 Analyst & Investor Day, May 23
  6. WE SoCal - How to Lead With Impact: Fireside Chat With Lorraine Le, May 23
  7. MFDF Conference of Fund Leaders Forum, June 5
  8. MFDF in-person outreach: Continuing Regulatory Impacts on Fund Boards, June 11
  9. MFDF webinar - Digital Assets in the Fund Space (Part 1 of 2), June 12
  10. 2024 MMI Leadership Pathway Seminar, Jun 12-14
  11. 2024 Nicsa Fearless Leadership Symposium, June 12
  12. Expect Miracles East Coast Classic 2024, June 13
  13. MFDF webinar - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  14. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  15. New York YPEM Cornhole Classic, June 25
  16. Morningstar Investment Conference Conference 2024, Jun 26-27
  17. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  18. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  19. MFDF Director Discussion Series - Open Forum (New York), July 23
  20. 2024 MMI Annual Conference, Oct 15-17
  21. 5th Annual ETFGI Global ETFs Insight Summit, October 29
  22. MFDF webinar - Digital Assets in the Fund Space (part 2 of 2), November 7
  23. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  24. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use