Pinnacle chief executive Ian Macoun says the ASX owner of boutique fund managers won’t repeat the mistakes of other companies in blowing up capital with ill-advised international acquisitions.
The 70-year-old founder of one of Australia’s most successful listed wealth businesses revealed it had invested over $500 million to buy stakes in global asset managers as he flagged further international expansion.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
