Source: Rātā Invest
Alvarium (NZ) Wealth Management Holdings Ltd (Alvarium), parent company of Alvarium Wealth and Pathfinder Asset Management, is pleased to announce the effective acquisition of 100% of Salt Funds
Management for an undisclosed sum. The transaction increases Alvarium’s total assets under advice to more than NZD$4.3 billion.
Alvarium has completed this strategic acquisition to expand its investment platform capabilities. The acquisition enhances the firm’s existing service architecture and expands its product suite to deliver greater investment diversification and client optionality. Solely owned by New Zealanders, this news reinforces their long-term vision and commitment to New Zealand.
As a specialised financial services firm serving high-net-worth families and individuals, foundations, and next-generation wealth holders, Alvarium delivers bespoke advisory services, alternative investment strategies, and proprietary investment solutions, and through the Pathfinder KiwiSaver Plan and Managed Fund solutions.
The integration aligns with Alvarium’s boutique positioning while enhancing its institutional capabilities and broadening its investment management platform.
“Salt has built an exceptional reputation as an active fund manager with robust investment processes and successful track record of style-agnostic investing,” said Alvarium Wealth Chair, Shane Edmond. “We are looking forward to working with their experienced investment team as we align to further grow these strong funds management businesses and considerable wealth advisory platform.”
Salt is committed to active fund management and places great emphasis on its rigorous in-house fundamental research. Salt is well known for its innovative products such as the Salt Long Short Fund, the listed Carbon Fund, and the Salt NZ Dividend Appreciation Fund. Continuity under the existing investment management teams will ensure preservation of Salt’s established investment processes and the managers’ proven track record of generating strong risk-adjusted performance for investors.
“Alvarium has been very successful in bringing together multiple businesses with a focus on creating wealth for their clients,” said Salt Managing Director, Matthew Goodson. “Alvarium is an ideal fit for the Salt team. They have a tremendous franchise with their Pathfinder KiwiSaver Plan and funds, with market-leading ESG practices and capability. We are excited by the outlook when we add our fundamental research skills to this.”
Since inception Salt has been wholly owned by its investment personnel, and these individuals will remain co-owners, via equity ownership in Alvarium.The Alvarium family of wealth advisers, investment and operations professionals will not change, and we welcome the Salt team to support our continued delivery of best-in-class financial advice and wealth management.
On 1 April 2025, Rātā Foundation made a strategic direct investment in Alvarium Wealth/Pathfinder, acquiring a 25% stake in the firm.
Rātā Chief Executive Leighton Evans says, “The investment in Alvarium reflects our long-term strategy to grow the capital base of Rātā through direct, values-aligned partnerships. The acquisition of Salt Funds is a natural extension of that strategy—bringing together strong investment capability with a shared commitment to ethical outcomes. This is about more than financial growth; it’s about ensuring our investments reflect the aspirations of the communities we serve and enable us to increase our impact over time.”
As the South Island’s largest community investment fund, Rātā Foundation manages a $700 million pūtea, supporting social initiatives across its region with approximately $26 million annually.
Background
On 1 April 2025, Rātā Foundation made a strategic direct investment in Alvarium Wealth/Pathfinder, acquiring a 25% stake in the firm.
Alvarium has now acquired 100% of Salt Funds to expand its investment platform capabilities, increasing total assets under advice to over NZD$4.3 billion.
Q1: Why did Alvarium acquire Salt Funds Management?
Salt brings a strong track record in active fund management and a suite of high-performing products, including the Salt Long/Short Fund, Carbon Fund, and Dividend Appreciation Fund.
Q2: How does this acquisition align with Rātā Foundation’s investment strategy?
This acquisition is a natural extension of the Rātā direct investment strategy. It strengthens Alvarium’s institutional capabilities and broadens its product suite—enhancing diversification and values-aligned investment options. It also supports the Rātā goal of growing its capital base through strategic partnerships that deliver both financial and social returns.
Q3: What does this mean for Rātā commitment to ethical investing?
Salt’s investment philosophy—focused on structural market inefficiencies and risk-adjusted returns—complements Rātā ESG-I values. The acquisition reinforces Rātā leadership in ethical investment and its commitment to Tiakitanga, Whanaungatanga, Manaakitanga, and Kotahitanga.
Q4: Is this consistent with Rātā SIPO?
Yes. The Rātā Foundation Statement of Investment Policies and Objectives (SIPO) allows up to 30% of its portfolio to be allocated to direct investments. These are expected to improve long-term financial returns, increase distributions to communities, and align with Rātā purpose of creating equity, sustainability, and ESG-I aspirations.
Q5: What are the risks and how are they being managed?
Risks include market volatility, stakeholder scepticism, and reputational exposure. These are mitigated through clear values-based messaging, transparent governance, and ongoing alignment with Rātā ESG-I standards.
Q6: What impact will this have on South Island communities?
The partnership enhances Rātā ability to deliver impact through ethical investment. It supports community wellbeing by increasing the capital available for grants and aligning investments with local aspirations—particularly in Canterbury, Nelson, Marlborough, and the Chatham Islands.
Q7: What future growth opportunities does this acquisition unlock?
The acquisition of Salt Funds positions Alvarium—and by extension Rātā—as a key player in the evolving landscape of ethical and values-aligned investment. With over NZD$4.3 billion in assets under advice, the expanded platform offers:
- Enhanced diversification: Salt’s fund suite adds new investment strategies, including long/short, carbon-focused, and dividend appreciation funds.
- Stronger institutional capability: Alvarium’s boutique advisory model is now backed by Salt’s robust investment processes and style-agnostic approach.
- Scalable impact: The combined entity is better equipped to pursue larger, more complex investments that align with Rātā strategic pou—housing, health, education, and environment.
Q8: How does this benefit our stakeholders?
Stakeholders—including community partners, fund managers, and grantees—stand to gain from:
- Increased distributions: Improved financial returns from direct investments will grow the Rātā pūtea over time, enabling more funding for community initiatives.
- Greater transparency: Rātā leadership in ethical investment and its commitment to ESG-I (ESG + Indigenous) principles ensure that stakeholders can trust the integrity of its investment decisions.
- Stronger partnerships: The acquisition strengthens the ability of Rātā to co-invest with aligned organisations, iwi, and community trusts, fostering collaborative growth.
Q9: What is the social impact of this investment?
This transaction is more than financial—it’s a strategic move to amplify Rātā purpose:
- Values-aligned investing: Salt’s ethical investment philosophy complements Rātā Foundation’s commitment to Tiakitanga, Whanaungatanga, Manaakitanga, and Kotahitanga.
- Community wellbeing: Increased investment returns mean more resources for grants, loans, and local ventures that directly benefit Canterbury, Nelson, Marlborough, and the Chatham Islands.
- Leadership in impact investing: Rātā is setting a precedent for how other community trusts and foundations can create social impact while maintaining financial discipline.
Visit www.ratainvest.org.nz for more on our investment approach.
