Blue Sky launches LIC IPO
Publicly-listed alternative investments specialist Blue Sky Alternative Investments Limited has launched an Initial Public Offering (IPO) to raise up to $100 million to list what it says will be Australia's first diversified, alternatives-focused Listed Investment Company (LIC) on the Australian Securities Exchange (ASX).
Explaining the move, the company said that in contrast to most Australian LICs, which invest in listed equities and fixed interest, the Blue Sky Alternatives Access Fund LIC would have a diversified alternatives focus and would be directly managed by Blue Sky's experienced team.
It said the LIC would co-invest alongside direct investors in Blue Sky's managed funds across the company's four alternative asset classes of real assets, private equity and venture capital, private real estate and hedge funds.
Commenting on the move, Blue Sky's investment director Alexander McNab said overseas investors had long enjoyed the benefits of substantial allocations to alternative asset classes but there had been barriers for Australian investors.
"There is a growing appetite for alternatives in Australia, but access and liquidity have been problematic. Until now, these funds were only targeted at institutional investors," he said.
"The Blue Sky Alternatives Access Fund is removing these barriers and providing financial planning, private wealth, SMSF and retail investors with a simpler way to get exposure to Blue Sky's managed alternatives."
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
