Jul 22, 2026 – 9.31amNew York’s Merchant Investment Management has stormed a $225 million capital raising at Ironbark Asset Management, which oversees more than $90 billion across its funds management, trusteeship and advice arms.Merchant will become Ironbark’s primary financier, arming the 17-year-old business with cash to acquire promising bets across its three business lines.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Soul Patts finds itself diluted at Ironbark after $225m capital call
The asset management business oversees $90 billion and has been growing quickly in the wealth sector. It has found a new backer in a New York investment giant.
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