BetaShares has received a “significant investment” from a global private equity firm as it looks to fuel a major expansion of its business.

TA Associates has bought a substantial stake in BetaShares, though financial terms of the transaction have not been disclosed. As part of the transaction, TA has acquired the 51 per cent stake held by Mirae Asset Financial Group along with those of other minority investors.

“We are excited to welcome TA as an investor as we enter this next phase of our growth. Over the past 10 years, BetaShares has developed a market-leading position in the Australian ETF industry, helping democratise investing by expanding choice, lowering costs and making quality investments more accessible than ever before,” said BetaShares founder and chief executive Alex Vynokur.

“Looking at the decade ahead, we have a vision for the company to continue developing into a leading, independent Australian financial services business, offering a wide range of quality solutions to help our clients reach their financial goals.”

Read more/Source: Investor Daily