Fidante Partners of Australia has forged a business relationship with UK boutiques River & Mercantile and Wye Tree Asset Management.

River & Mercantile, run by chief executive James Barham, has won a A$50 million ($46.8 million) mandate to manage global equities on behalf of Fidante's Australian-listed parent Challenger. Fidante has agreed to become business partner to R&M in Australia and New Zealand.