Challenger Limited
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Challenger Limited - overview
Established
1985
Location
Sydney, NSW, Australia
Primary Industry
Financial Services
About
Based in Sydney, Australia, and founded in 1985 as Challenger International Limited, Challenger Limited is an investment firm that provides funds and asset management services. The company went public and was listed on the ASX in 1987. In 2003, it merged with CPH Investment Corporation and consequently changed its name to Challenger Financial Services Group Limited and changed its name again to Challenger Limited in 2010. As of July 2021, the company is being led by its Managing Director and CEO, Richard Howes.
In April 2025, TAL agreed to acquire Challenger Limited for USD 20 million. The company works with the objective of providing financial security to Australian citizens, during their retirement life. Challenger Limited operates two subsidiaries, Challenger's Funds Management division, and Challenger Life Company Limited. Challenger Life Company Limited is a provider of lifetime annuities, and term annuities, the investment method which provides regular income to its customers, regardless of share market variations, CarePlus, the customized investment plan for assisting people moving into residential aged care, and guaranteed personal superannuation, and guaranteed allocated pension, etc.
The firm also offers fixed-income managed funds and financial advisory services for its clients. Challenger's Funds Management division includes Fidante Partners, which forms long-term alliances with investment teams and fund managers that seek to grow specialist investment management businesses, as well as the Challenger Investment Partners business. Challenger Investment Partners provides investment management services for real estate clients and derivative investment management services for institutional investment clients. The company generated a revenue of AUD 1.
13 billion, for the year ended 30 June 2020. The April 2025 acquisition aims to achieve further growth for the company and to expand the its profits in Australia's high-growth retirement market.
Current Investors
Athene Holding Ltd.
Primary Industry
Financial Services
Sub Industries
Investment Banking, Private Equity, Life Insurance
Website
www.challenger.com.au
Verticals
Big Data
Total Amount Raised
Subscriber access only
Challenger Limited - timeline of key events
Challenger Limited - financials
| Fiscal Year Ended | Jun 30, 2003 | Jun 30, 2004 | Jun 30, 2005 | Jun 30, 2006 | Jun 30, 2007 | Jun 30, 2008 | Jun 30, 2009 | Jun 30, 2010 | Jun 30, 2011 | Jun 30, 2012 | Jun 30, 2013 | Jun 30, 2014 | Jun 30, 2015 | Jun 30, 2016 | Jun 30, 2017 | Jun 30, 2018 | Jun 30, 2019 | Jun 30, 2020 | Jun 30, 2021 | Jun 30, 2022 | Jun 30, 2023 | Jun 30, 2024 | Jun 30, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 237,984,000 | - | - | - | - | - | - | - | - | 1,387,700,000 | 1,598,400,000 | 1,615,800,000 | 1,689,000,000 | 1,813,300,000 | 1,972,300,000 | 2,190,500,000 | 2,372,600,000 | 1,132,800,000 | 2,785,700,000 | 1,860,700,000 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - | - | - | - | - | - | - | 15.2% | 1.1% | 4.5% | 7.4% | 8.8% | 11.1% | 8.3% | (52.3%) | 145.9% | (33.2%) | - | - | - |
| EBITDA (USD) | 27,940,000 | - | - | - | - | - | - | - | - | 203,200,000 | 307,400,000 | 153,100,000 | 83,800,000 | 46,400,000 | 7,500,000 | (70,800,000) | 34,500,000 | (1,095,100,000) | 535,000,000 | 702,800,000 | - | - | - |
| Operating Income (USD) | 27,940,000 | - | - | - | - | - | - | - | - | 192,200,000 | 291,100,000 | 133,100,000 | 65,200,000 | 30,300,000 | (7,000,000) | (86,800,000) | 19,200,000 | (1,110,400,000) | 519,700,000 | 688,800,000 | - | - | - |
| Operating Margin | 11.7% | - | - | - | - | - | - | - | - | 13.9% | 18.2% | 8.2% | 3.9% | 1.7% | (0.4%) | (4.0%) | 0.8% | (98.0%) | 18.7% | 37.0% | - | - | - |
| % EBITDA Margin | 11.7% | - | - | - | - | - | - | - | - | 14.6% | 19.2% | 9.5% | 5.0% | 2.6% | 0.4% | (3.2%) | 1.5% | (96.7%) | 19.2% | 37.8% | - | - | - |
| NET Income (USD) | 21,323,000 | - | - | - | - | - | - | - | - | 166,700,000 | 461,300,000 | 369,700,000 | 327,900,000 | 329,900,000 | 398,200,000 | 323,800,000 | 310,700,000 | (421,100,000) | 592,300,000 | 253,700,000 | - | - | - |
| % Net Margin | 9.0% | - | - | - | - | - | - | - | - | 12.0% | 28.9% | 22.9% | 19.4% | 18.2% | 20.2% | 14.8% | 13.1% | (37.2%) | 21.3% | 13.6% | - | - | - |
Challenger Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LP Direct | Announced | Challenger Limited | - | ||||||||
| Add-on | Completed | Challenger Limited | - | ||||||||
| Trade Sale | Completed | Welcome Break | - | ||||||||
| N/A | Completed | 50 Huntingfield Avenue, 78 Mallard Way, Brooklyn Woolstore, Gillman Woolstore, Regent Cinema Centre, Village Cinemas Geelong, Village Cinemas Hobart, Village Cinemas Launceston | - |
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Challenger Limited - employee data
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