Navigator Global acquires US$195M alternative asset portfolio

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.