AFR – Street Talk – Sarah Thompson, Kanika Sood and Emma Rapaport
Investment house Perennial Partners is making its next move, taking a 50 per cent stake in Sydney microcap fund manager Balmoral Investors and bringing it under its boutique model.
Balmoral, which is run by co-founders and portfolio managers Wik Farwerck and Tim Canham, will now become the manager of the Perennial Microcap Strategy, taking total microcap funds under management across the two firms to $150 million. Canham and Farwerck had run First Sentier’s emerging companies fund for 15 years until it was shut in 2024.
Warwick Farwerck (left) and Tim Canham were fund managers at First Sentier. Ryan Stuart
Perennial launched its microcap strategy in 2017 as a carve-out of its smaller companies strategy under Andrew Smith and John Murray. As part of the deal, Smith will now focus his attention on the small caps and active engagement strategies, which have around $1 billion under management. Portfolio manager Sam Berridge will continue to manage the microcap resources component for Balmoral.
The move comes two months after Perennial inked a partnership deal with former Maple-Brown Abbott stockpicker Joseph Ziller, taking a 50 per cent interest in his early-stage global equity funds management business.
Atop its in-house strategies, Perennial’s stable now includes fixed income manager Daintree Capital, global small and mid-cap equities manager Fairlight Asset Management and sustainable investor Melior.
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