By Digifin Pty Ltd · About this coverage
Key Points
- NYLIM to acquire 60% of Invictus at Initial Closing expected in Q1 2027
- Net upfront proceeds expected at approximately USD40m to USD43m
- Potential earn-out of up to approximately USD32m through end of 2029
- Remaining 40% interest to be purchased by NYLIM at Deferred Closing in 2031
- FY27 Invictus distributions not expected to reduce materially
About Navigator Global (ASX:NGI)
Navigator Global Investments Limited is an ASX-listed alternative asset management company headquartered in Brisbane. It partners with specialised investment managers through minority stakes and strategic capital across global alternative strategies.
Navigator Global (ASX:NGI) Investments entered an agreement to realise the value of its Invictus Capital Partners interests over time as New York Life Investment Management acquires a majority stake in Invictus.
NYLIM will acquire a 60% ownership stake at an Initial Closing expected in the first quarter of 2027, subject to customary closing conditions and regulatory approvals. The remaining 40% stays with Invictus management and other existing shareholders, including Navigator Global, until NYLIM purchases that equity in 2031 at a Deferred Closing. At Initial Closing, Navigator Global expects net upfront proceeds of approximately USD40 million to USD43 million after underlying Invictus transaction and other costs, estimated taxes and other closing adjustments, which are expected to fund new growth initiatives. It may also receive earn-out consideration of up to approximately USD32 million based on Invictus achieving agreed revenue, capital raising and deployment targets between Initial Closing and the end of 2029. Deferred Closing consideration in 2031 will be determined by reference to agreed future performance outcomes, including but not limited to fee-related earnings. The Transaction is not expected to materially reduce distributions received from Invictus in FY27, and Navigator Global expects continued material profit distributions until the Deferred Closing. NYLIM is described as having approximately $838 billion in assets under management. Invictus figures are as of 30 June 2026.
Closing remains subject to conditions and approvals. Deferred Closing consideration is not quantified in the release.
Source: Navigator Global Investments Limited (ASX:NGI), 29 September 2026. Summary content supplied by Digifin Pty Ltd.
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