CardinalStone Partners completes acquisition of Radix Pension

CardinalStone Partners Limited, foremost independent investment banking and multi-asset management firm, has announced the successful acquisition of a majority equity stake in Radix Pension Managers Limited, a long-standing player in Nigeria’s pension industry.

Following this acquisition, Radix Pension Managers Limited has been rebranded as CardinalStone Pensions Limited, marking a new era of growth and innovation in pension fund administration.

With this acquisition and rebrand, according to a statement, CardinalStone Partners Limited solidifies its position as a key player in Nigeria’s financial landscape, leveraging its expertise and resources to enhance CardinalStone Pensions’ operations and service delivery.

“This transition represents a significant milestone in the firm’s strategic expansion into the pension industry”, the statement said.

It said CardinalStone Partners Limited, renowned for its comprehensive financial services catering to institutional and high-net-worth clients, boasts of a team of seasoned investment professionals with a proven track record of visionary leadership.

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The firm’s expertise spans across Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services, Financing, and more recently, Pensions.

Recognised by Euromoney as the Best Equities House and Market Leader in Investment Banking, Nigeria, and honored twice by the Nigerian Exchange as Equity Trader of the Year, CardinalStone brings extensive resources, expertise, and a diversified portfolio of investment and asset management solutions to support its pension business.

With a clear vision for growth and innovation, Michael Nzewi, group managing director of CardinalStone, sees this acquisition as a new chapter for CardinalStone and the industry at large.

He said in the statement: “Our collective strength provides us with the pivotal opportunity to strengthen our position in the pension industry and broaden our range of services for our valued clients. By integrating the expertise and resources of all businesses in the CardinalStone Group, we are poised to deliver even greater value and innovative solutions to our customers across the board.”

Despite the change in ownership and brand identity, there will be no disruption to the operations of CardinalStone Pensions, as the firm will continue its business operations as a Pension Fund Administrator, the firm said.

It said with the backing of the CardinalStone Group, CardinalStone Pensions is set to leverage its strengths to further enhance its offerings, ensuring continued excellence in pension fund administration and delivering superior value to its customers.