Balmain completes strategic sale of AMAL Group to IQ-EQ

SYDNEY, AUSTRALIA – 15 September 2025

Balmain NB Corporation Limited (Balmain), leader in Australia’s private credit industry and asset origination, has successfully completed the sale of its majority stake in AMAL Group to IQ-EQ, a global investor services group. The transaction settled following regulatory approval from the Foreign Investment Review Board (FIRB).

The AMAL Group will be rebranded to IQ-EQ.

Established by Balmain in 1994, AMAL Group has grown under Balmain’s ownership into the region’s only integrated provider of loan servicing, corporate trust, and agency services, with over A$37 billion in funds under administration and supervision across Australia and New Zealand.

Andrew Griffin, CEO of Balmain, said: “We’re proud of the growth and success AMAL has achieved. This sale is a testament to Balmain’s ability to support entrepreneurial ventures and unlock strategic value in enterprises adjacent to our core origination and funds management business. I think that IQ-EQ with its global platform is an ideal partner to take AMAL into its next chapter.”

Griffin added, “For Balmain it will be business as usual as we continue to support IQ-EQ. ”

Mark Pesco, Group CEO of IQ-EQ, said: “This acquisition is a key milestone in our global strategy. AMAL’s market-leading capabilities and strong regional presence allow us to deliver enhanced value to our clients and expand into two dynamic new markets.”

Balmain was advised by Goldman Sachs with Assured Legal Solutions providing legal counsel, while Nomura acted as financial adviser to IQ-EQ.

About AMAL Group

AMAL was established in 1994 and is the region’s leading integrated provider of primary and back-up receivables servicing, corporate trust and fund administration services. With over A$37 billion of funds under administration and supervision in Australia and New Zealand, AMAL has been rated as a 'Strong' Servicer by Standard & Poor’s (the highest available rating) since 2005 and holds accreditation with SAI Global for Quality Management Systems (ISO 9001) and Information Security (ISO/IEC 27001).

About Balmain

Balmain is a trusted leader in Australia’s private credit industry, with a proven track record in asset origination and funds management.

The Balmain group, originally founded in 1979, has built a vertically integrated private credit business, specialising in secured real estate and corporate debt that originates in excess of $4 billion in secured private credit annually. This origination capability is the foundation of its $4 billion in assets under management funded by both retail / wholesale investors and Balmain’s own balance sheet.

To find out more about Balmain visit Balmain.com.au

About IQ-EQ

IQ-EQ is a global investor services group meeting the administration, compliance, and reporting needs of the investment sector in full and worldwide.

Following the AMAL acquisition, IQ-EQ will employ a global workforce of almost 6,000 people across 27 jurisdictions and have assets under administration (AUA) exceeding US$750 billion. IQ-EQ works with 13 of the world’s top 15 private equity firms. Also part of the IQ-EQ group of companies are First National Trustee Company, The Private Office and Agama.

To find out more about IQ-EQ visit iqeq.com

‍

Media Contact:

Brooke Ryan, Sodali & Co
brook.ryan@sodali.com
+61 404 039 928

Eleanor Pearson, Sodali & Co
eleanor.pearson@sodali.com
+61 400 886 722