Hearts & Minds Investments merges with Third Link fund
- Third Link Growth Fund is merging management with ASX-listed Hearts & Minds Investments.
- The deal combines two major Australian philanthropic investment vehicles with over $121 million in total charitable donations.
- The transition aims to expand the fund's reach while preserving its core social impact mission.
Hearts & Minds Investments (ASX:HM1) has agreed to take over management of the Chris Cuffe-founded Third Link Growth Fund to consolidate two of Australia's largest philanthropic investment vehicles.
The deal contrasts with traditional fund acquisitions, as both organisations donate standard management fees directly to medical research and charitable causes rather than retaining corporate profits.
"I have been involved with Hearts & Minds since the establishment of its listed investment company, Hearts and Minds Investments, which listed on the ASX in November 2018 and of which I am the current chair," said Hearts & Minds Investments Chairman Chris Cuffe.
Subject to regulatory approvals, the entity is expected to be renamed the Hearts & Minds Australian Equities Growth Fund, bringing together Third Link’s $25.2 million in historical charitable donations alongside Hearts & Minds’ $96 million contributed to medical research.
The merged vehicle will maintain its social impact structure while using the combined operational infrastructure to expand its underlying investment capability.
Following the announcement, the Hearts & Minds Investments share price was unchanged at $2.77.
Third Link has generated an annualised return of 9.22% for its unit holders since its launch in 2008.
Hearts & Minds Investments relies on stock recommendations presented at the annual Sohn Hearts & Minds Conference to manage its concentrated portfolio of Australian and global equities.
