GSFM, which is owned by Canada's CI Financial Corp, said the combined firms would manage more than A$17 billion ($11.61 billion) in assets.

"GSFM’s acquisition of a 49% equity stake in the business will allow the Redpoint team to focus on investment management, while also introducing our funds to a wider audience," Redpoint CEO Max Cappetta said.

The deal will also see Redpoint co-founder Ganesh Suntharam replacing fellow founder Eric Smith as chief investment officer.

(Reporting by Ambar Warrick in Bengaluru; Editing by Chris Reese)