Pacific Current Group Limited (ASX:PAC) entered into an agreement to acquire 24.9% stake in Avante Capital Partners for $40 million on September 19, 2023. The consideration involves $15m paid at closing, $13m paid one year after closing, and up to an additional $12 million subject to growth milestones. Avante will continue to be overseen by its founders and principals and there will be no changes to its strategies or day-to-day operations.

The acquisition is approved by Pacific's board. The transaction is expected to close in September 30, 2023. Ardea Partners LP acted as financial advisor to Avante.