Omni Bridgeway reported A$135.8 million in investment proceeds and 24% growth in management fees for the quarter ended September 30, 2026, alongside the final close of Funds 4/5 Series II at its US$1 billion target. The Omni Bridgeway results mark the opening quarter of fiscal 2027, with management saying the legal-assets manager was tracking at or above its operational targets.
Key Takeaways
- Twenty full and partial investment completions delivered a 3.9x multiple on invested capital.
- Quarterly management fees rose 24% to A$10.7 million.
- Management expects the Series II final close to support faster fee growth, while costs rise later in FY27.
Omni Bridgeway results show stronger completion returns
The 3.9x multiple on invested capital from completed investments exceeded the company's two-year trailing average of 2.5x. Full and partial completions also produced a fair value conversion ratio of 102%. These measures describe investment realisations rather than a company-wide earnings margin.
Alongside management fees, Omni Bridgeway received cash carried interest during the quarter. Further carried interest had accrued on Series II funds but had not yet been distributed, making the distinction between received and accrued amounts important.
| Item | Details |
|---|---|
| Cash carried interest received | A$9.4 million in the first quarter of FY27 |
| Series II carried interest accrued | Approximately A$8.6 million, not yet distributed |
| Quarterly cost coverage ratio | 68% |
Series II close supports the fee outlook
Omni Bridgeway said Funds 4/5 Series II reached their full US$1 billion fundraising target. Management expects the final close to accelerate fee growth towards the higher end of its previously indicated FY27 range; that remains an outlook statement, not a realised result.
The company's January 2024 Series II announcement described the fundraising structure as a second series of its core Funds 4 and 5, with a combined US$1 billion cap and Omni Bridgeway continuing as a 20% co-investor. That earlier announcement provides background on the funds, rather than verification of the latest close.
Investment pipeline expands as later-quarter costs approach
New commitments totalled A$87.1 million across nine investments, up 23% from the first quarter of FY26, and added A$81.2 million in new fair value.
The pipeline comprised 46 agreed exclusive term sheets representing an estimated A$416.6 million in potential commitments, compared with A$317.8 million a year earlier. Those term sheets are not yet contracted commitments.
Quarterly cash operating expenses were A$15.7 million. Management expects spending to increase in later quarters while remaining in line with the FY27 budget of A$72.5 million to A$75.0 million.
Next milestone
Omni Bridgeway's next Investment Portfolio Report, covering the second quarter of FY27, is expected on January 29, 2027.
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