Pacific Acquires AVI
Pacific Asset Management Acquires London-Based AVI, Maintaining Leadership and Boosting Global Reach
Anonymous
Key Points
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AVI has about £2.1bn of assets under management, while Pacific Asset Management (PAM) manages roughly £18.4bn, underscoring the scale and potential reach of the combined platform.
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Pacific will acquire Goodhart Partners’ roughly 25% stake in AVI in addition to purchasing 100% of AVI’s share capital, bringing GOT under PAM’s umbrella.
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AVI has recently signed a new long-term lease for its Cavendish Square offices, reinforcing its London base and continuity of operations alongside the deal.
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Under Pacific ownership, AJOT’s investment team, policy and fee structure are expected to remain unchanged, preserving existing arrangements for the trust.
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AJOT’s leadership emphasizes AVI’s strong long-term track record in Japanese markets and argues that Pacific’s capabilities should help exploit overlooked small-cap opportunities there while maintaining returns.
Asset Value Investors (AVI), the London-based value-investment manager, is being bought by Pacific Asset Management (PAM) in a deal that will hand PAM full control of AVI's £2.1 billion business, according to Portfolio Adviser. PAM, itself a subsidiary of Australian multi-boutique firm Pinnacle Investment Management, manages roughly £18.4 billion — making it more than eight times AVI's current size.
The deal includes PAM purchasing Goodhart Partners' roughly 25% stake in AVI on top of acquiring 100% of AVI's share capital, Quoted Data reported. Despite the change in ownership, AVI's brand, leadership, and investment approach will all stay the same.
Joe Bauernfreund Stays in Charge Across All Funds
Joe Bauernfreund will remain CEO and CIO of AVI after the deal closes, Investing.com reported. He will continue to manage AVI Global Trust (AGT) and AVI Japan Opportunity Trust (AJOT), as well as MIGO Opportunities. No changes are planned to investment teams, philosophy, or processes.
AVI has also signed a new long-term lease on its Cavendish Square offices in London, signalling it is not going anywhere. The deal is designed to look like business as usual for clients — same people, same desks, same strategy.
AJOT Board Backs the Sale, Cites Japanese Small-Cap Edge
The board of AVI Japan Opportunity Trust confirmed its support for the acquisition, TipRanks reported. AJOT's investment team, fee structure, and policy will all remain unchanged under PAM ownership. The trust focuses on overlooked small-cap stocks in Japan — a niche where AVI has built a strong long-term track record.
AJOT's leadership argued that PAM's wider capabilities should help AVI exploit more opportunities in Japanese markets. They pointed to AVI's existing track record there as the foundation for future growth under the new structure.
Pacific Gains a Boutique Without Breaking What Works
PAM is framing the deal as a way to give AVI access to broader distribution, better technology, and a stronger operational platform, Investegate reported. The idea is simple: AVI brings the investment skill, PAM brings the scale. Neither side wants to change what AVI does — they want more people to know about it.
Industry observers say the deal could accelerate growth for AVI's funds and trusts. PAM's global reach could push AVI's assets well beyond its current £2.1 billion. For now, the agreement is structured to preserve AVI's culture while unlocking what PAC calls its "next growth phase."
What Goodhart Partners' Exit Means for the Deal
Goodhart Partners held about 25% of AVI before this transaction. PAM is buying that stake as part of the wider 100% acquisition, Portfolio Adviser reported. That means no minority shareholders will remain — PAM will own AVI outright once the deal completes.
The clean ownership structure gives PAM full control to integrate AVI into its multi-boutique platform. It also removes any potential conflict between existing shareholders and the new owner over the direction of the business going forward.
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