London, 15 October 2025:
- New minority investor will gain exclusive distribution rights across Australia, New Zealand and Asia.
Fulcrum Asset Management (Fulcrum) announces a new strategic partnership with Fidante, a global investment management firm, part of Challenger Limited, the ASX-listed investment management company. Subject to regulatory approvals, Fidante will acquire a minority stake in the business, and will also gain exclusive distribution rights for Fulcrum’s products across Australia, New Zealand and Asia.
Fulcrum, founded in 2004 and headquartered in London, manages over £6bn. Its heritage in macro strategies and research remains central to its business. Its principle capabilities span Discretionary Strategies, Alternative Solutions and Quantitative Strategies, each underpinned by innovation and a disciplined investment process.
Suhail Shaikh, Chief Investment Officer said:
“Having undertaken extensive due diligence to find the right partner, we are delighted to have signed this strategic initiative. A partnership with Fidante will allow us to enhance client outcomes by adding new sources of uncorrelated return to portfolios and investing in long-term research projects. As part of the transaction executive partners have also increased their ownership of the business.”
Joe Davidson, Managing Partner said:
“We are very pleased to enter into a formal partnership with Fidante. There is strong alignment between the culture and aspirations of both firms, and we are excited to work with Fidante to broaden access to our strategies for Australian and Asian investors. Fulcrum remain majority owned by its partners and employees.”
Victor Rodriguez, Challenger Chief Executive, Funds Management said:
“The partnership strengthens Fidante’s growth strategy by expanding its alternatives offering at a time of rising client demand. We are excited to be partnering with Fulcrum, a firm with a long and successful track record in macro strategies. Their expertise is a compelling addition to Fidante’s affiliate network and creates new opportunities for investors seeking world-class alternatives.”
Fidante’s investment provides a successful exit for one of the two Fulcrum founders, Andrew Stevens, who retired as CEO in December 2022; the other, Gavyn Davies, remains in his role as Executive Chairman.
Andrew Stevens said:
“I am delighted to have sold my interest to Fidante, in whom Fulcrum has found an excellent strategic partner to help take the business forward.
“I would like to wish Fulcrum, its clients, and Fidante every success in this next chapter. I am immensely proud of Fulcrum and everything we have achieved. I will always be rooting for you.”
Piper Sandler & Co. acted as exclusive financial advisor and McDermott Will & Schulte as exclusive legal counsel to Fulcrum in connection with the transaction.
Any views and opinions expressed are for informational and/or similarly educational purposes only and are a reflection of the author’s best judgment, based upon information available at the time obtained from sources believed to be reliable and providing information in good faith, but no responsibility is accepted for any errors or omissions. The information contained herein is only as current as of the date indicated, and may be superseded by subsequent market events or for other reasons. Charts and graphs provided herein are for illustrative purposes only. The information in this document has been developed internally and/or obtained from sources believed to be reliable; however, Fulcrum Asset Management LLP (“Fulcrum”) does not guarantee the accuracy, adequacy or completeness of such information. Reproduction of this material in whole or in part is strictly prohibited without prior written permission of Fulcrum. Copyright © Fulcrum Asset Management LLP 2026. All rights reserved.
