Fidante Partners, the Australian financial services firm that works with boutique fund managers, has acquired its eleventh boutique firm.

Effective immediately, MIR Investment Management will become part of the Fidante network, adding some $1 billion in funds under management to the group. MIR was established in 2003 and specialises in the wholesale funds management of Asia-Pacific ex-Japan and Greater China equities products. It has a team of 16 investment specialists across Sydney, Melbourne and Singapore.

MIR's investment structure will remain unchanged even with the acquisition, the company said in a statement. John Beggs, chief investment officer, and Kenny Tjan Sing Pong, head of the qualitative team for Asia ex-Japan and managing director of MIR Singapore, will become chief executive and chief investment officer, respectively. 

Fidante Partners is a wholly-owned subsidiary of Challenger Limited. As of 31 March 2012, the company records around $17.8 billion in assets under management.