<article>The <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=TSB+Community+Trust">TSB Community Trust</a> announced it has agreed to acquire the remaining 51 per cent shares in New Zealand&#8217;s fifth largest fund manager <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Fisher+Funds">Fisher Funds</a> for an undisclosed sum.</article>

The <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=TSB+Community+Trust">TSB Community Trust</a> announced it has agreed to acquire the remaining 51 per cent shares in New Zealand&#8217;s fifth largest fund manager <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Fisher+Funds">Fisher Funds</a> for an undisclosed sum.
The trust, through its Group companies, has held a shareholding in Fisher Funds since 2013, and increased its shareholding to 49 per cent in 2015. The acquisition is set to complete this month, said the company.
According to the announcement, TSB will later sell 24.99 per cent shares in Fisher Funds to a global private equity firm <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=TA+associates">TA Associates</a>, which intends to raise its shareholding to 34 per cent after it receives required regulatory approvals.
Fisher Funds, founded by Carmel and Hugh Fisher since 19 years ago, has become New Zealand’s fifth largest KiwiSaver provider, following ANZ, ASB, Westpac and AMP. It claims it has over 270,000 clients and $7 billion assets under management to date.
Fisher Funds will continue to be led by Chief Executive Bruce McLachlan and there will be no change to the personnel or operations of the company as a result of this transaction.
Carmel has retired from her executive role in May 2017, but will remain a director on the Fisher Funds&#8217; board and a member of the Investment Committee.
TA Associates has invested in nearly 500 companies worldwide, mostly in five target industries including technology, healthcare, financial services, consumer and business services. Of total, it has made 19 investments in the funds management sector.
TA has raised $24 billion in capital and is investing out of current funds of $7.25 billion. It has over 85 investment professionals based in Boston, Menlo Park, London, Mumbai and Hong Kong.
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TSB Community Trust has agreed to acquire the remaining 51% shares in New Zealand's fifth largest fund manager Fisher Funds for undisclosed sum.

TSB Community Trust acquires remaining shares in NZ Fisher Funds

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TSB Community Trust acquires remaining shares in NZ Fisher Funds

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