Australia's Pacific Current jumps after selling part of PE frim's stake to CNO Financial

Pacific Current

25/09/2025 02:57

** Shares of Pacific Current Group PAC.AX advance as much as 2.50% to A$11.060, their biggest pct gain since August 20

** Asset manager announces divestiture of a portion of its stake in PE firm Victory Park Capital Advisors (VPC) to NYSE-listed CNO Financial Group CNO.N

** In exchange for selling 18% of co's remaining 11.2% equity stake in VPC and 5% of its 19.4% future carried interest entitlements in VPC's unlaunched funds, PAC will receive $5.5 mln upfront consideration before transaction costs - PAC

** Post-deal, PAC will retain a 9.2% stake in VPC's management co and 18.6% of carried interest entitlements on new funds

** Stock currently up 1.9%, trimming YTD losses to 7.3%

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))