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Australian-listed manager of hedge-fund and alternative-investment platforms, best known for its Lighthouse multi-strategy funds.
Australian-listed manager of hedge-fund and alternative-investment platforms, best known for its Lighthouse multi-strategy funds.
Lighthouse charges base fees on assets it manages or advises and performance fees when funds make gains, so earnings swing with markets and with the timing of annual fees. Based in the US, it picks outside hedge-fund managers for clients rather than running money itself.
In one line: A small Australian listed fund-of-hedge-funds manager.
Moat: narrow (scale, customer qualification). Long institutional manager-selection track record and due-diligence relationships are slow to rebuild elsewhere.
Headquarters: Perth, Australia · Founded: 1996 · Employees: 303
Size Navigator Global Investments (NGI.AX) is an Australia Financials company (Investment Managers) with a market value of $858M, the 197th largest of 316 Australia companies the cockpit tracks. Shares closed at A$2.03 on 6 Nov 2026.
Performance Over six months the shares fell 20.7%, against -2.2% for the median peer and +4.1% for the Australia market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 2.3% over the last twelve months (peer median +3.7%); the operating margin is 10.7% (peer median 32.0%).
Valuation It trades at 7.8× forward earnings against a peer median of 9.0× (7th cheapest of 16).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$708M | A$715M | A$688M | A$533M | A$375M |
| Revenue growth | — | +4% | +29% | +42% | — |
| Gross profit | A$307M | A$308M | A$311M | A$266M | A$226M |
| EBITDA | A$91.8M | A$94.5M | A$229M | A$155M | A$135M |
| Net income | A$29.7M | A$31.3M | A$184M | A$101M | A$52.8M |
| Free cash flow | A$136M | A$141M | A$150M | A$78.5M | A$44.6M |
| Capital expenditure | A$7.22M | A$7.48M | A$5.60M | A$10.2M | A$11.9M |
| Total debt | n/a | A$34.2M | A$43.1M | A$36.4M | A$57.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Navigator Global Investments NGI.AX | $858M | -21% | +2% | 11% | 7.8× | n/a |
| Pinnacle Investment Management PNI.AX | $2.54B | +2% | +22% | 10% | 19.2× | n/a |
| Man EMG.L | $4.43B | +10% | +24% | 28% | 8.4× | n/a |
| Blackstone BX | $149B | -3% | +9% | 57% | 18.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NGI.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.2% | +4.7% | 3rd lowest of 21 |
| 6-month return | -20.7% | -2.2% | 4th lowest of 21 |
| Distance from 52-week high | -38.6% | -20.0% | 5th lowest of 21 |
| Revenue growth (TTM) | +2.3% | +3.7% | 9th lowest of 21 |
| Operating margin | 10.7% | 32.0% | 4th lowest of 21 |
| Forward P/E | 7.8× | 9.0× | 7th cheapest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Navigator Global Investments NGI.AX | Australia | $858M | -21% | +2% | 11% | 7.8× | n/a | n/a |
| Abacus Global Management ABX | United States | $859M | -3% | +64% | 33% | 7.8× | n/a | n/a |
| Compass Diversified CODI | United States | $851M | -9% | +8% | 5% | 18.5× | n/a | n/a |
| Centuria Capital CNI.AX | Australia | $848M | -25% | +3% | 56% | 9.4× | n/a | n/a |
| Polar Capital POLR.L | United Kingdom | $872M | -8% | +19% | 29% | 7.1× | n/a | n/a |
| Virtus Investment Partners VRTS | United States | $843M | -12% | -5% | 15% | 6.0× | n/a | n/a |
| Hansa Investment HAN.L | United Kingdom | $830M | +12% | +27% | 418% | n/a | n/a | n/a |
| Generation Development GDG.AX | Australia | $897M | -23% | +66% | 104% | 27.4× | n/a | n/a |
| Kayne Anderson BDC KBDC | United States | $820M | -17% | -3% | 70% | 7.9× | n/a | n/a |
| Clairvest CVG.TO | Canada | $808M | +15% | -94% | 1,366% | n/a | n/a | n/a |
| Alaris Equity Partners Income Trust Trust Units Reg S 3c7 AD-UN.TO | Canada | $780M | -5% | +4% | 62% | 10.9× | n/a | n/a |
| Mutares SE & Co. KGaA MUX.DE | Germany | $769M | +2% | +17% | -10% | 2.3× | n/a | n/a |
| CFM Indosuez Wealth MLCFM.PA | France | $964M | +30% | -19% | 30% | n/a | n/a | n/a |
| XPS Pensions XPS.L | United Kingdom | $966M | +19% | +13% | 16% | 14.8× | n/a | n/a |
| Pollen Street POLN.L | United Kingdom | $741M | +11% | -5% | 68% | 11.4× | n/a | n/a |
| JAFCO 8595.T | Japan | $713M | -1% | -38% | 27% | 18.1× | n/a | n/a |
| Investment AB Oresund ORES.ST | Sweden | $712M | +8% | -8% | 741% | n/a | n/a | n/a |
| Liberty Financial LFG.AX | Australia | $705M | +3% | -3% | 70% | 6.4× | n/a | n/a |
| Ridgepost Capital RPC | United States | $1.07B | +11% | +8% | 27% | 9.0× | n/a | n/a |
| China Everbright 0165.HK | Hong Kong | $1.08B | -25% | +3% | -69% | n/a | n/a | n/a |
| AGF Management AGF-B.TO | Canada | $662M | -13% | +12% | 31% | 6.9× | n/a | n/a |