What did Navigator Global Investments (ASX:NGI) acquire from Stable Asset Management?

Navigator Global Investments (ASX:NGI) signed a definitive agreement to purchase a portfolio of net revenue share interests in 17 alternative asset managers from Stable Asset Management LP.

How is Navigator Global Investments (ASX:NGI) financing this US$195 million deal?

The acquisition is funded through two primary channels: a fully underwritten A$145 million pro rata accelerated non-renounceable entitlement offer and A$136 million in NGI scrip consideration.

What types of assets are included in the NGI Stable Growth Portfolio?

The "NGI Stable Growth Portfolio" includes economic interests in 17 managers covering strategies such as long-short equities, royalties, quantitative trading, private credit, and relative value.

What is the current size and performance of the acquired portfolio?

As of March 2026, the target portfolio held US$15.0 billion in firm-level assets under management (AUM) and US$1.8 billion in ownership-adjusted AUM.

Will the acquisition be profitable for NGI shareholders?

Management expects the deal to be financially compelling, specifically anticipating low double-digit earnings per share accretion within the first full year of ownership. This indicates that the additional earnings from the acquired interests are expected to outweigh the dilution caused by the new share issuance.

What is the FY26 earnings guidance for Navigator Global Investments (ASX:NGI)?

Following the acquisition, NGI has issued a robust outlook, projecting its FY26 Adjusted EBITDA to fall between US$100 million and US$104 million. This guidance reflects the expected contribution of the new portfolio and improved financial metrics across the company's broader ecosystem.

Navigator Global acquires US$195M alternative asset portfolio

Written by Brie CarterPublished May. 4 2026Last Updated May. 4 2026

Navigator Global Investments (ASX:NGI) entered into a definitive agreement to acquire a portfolio of net revenue share interests from Stable Asset Management LP for a total consideration of US$195 million.

The move involves the acquisition of interests in 17 alternative asset managers, effectively broadening NGI’s reach into private markets and diversifying its ecosystem across the entire asset manager lifecycle.

The transaction is being financed through a combination of a fully underwritten $145 million entitlement offer and $136 million in NGI scrip consideration.

The newly dubbed "NGI stable growth portfolio" offers exposure to a wide range of alternative strategies, including long-short equities, quantitative trading, private credit, and royalties.

As of March, the portfolio boasted US$15 billion in firm-level assets under management and generated US$27 million in distributions throughout the 2025 calendar year.

NGI leadership expects the acquisition to be financially compelling, anticipating low double-digit earnings per share accretion in the first full year of ownership.

Looking ahead, the company has provided a robust outlook, projecting its FY26 adjusted EBITDA to land between US$100 million and US$104 million.