Pengana plans to launch new trust
Pengana Capital has announced plans to launch next year an Australian Securities Exchange (ASX) listed investment trust that would invest in global private equity.
The proposed trust would offer exposure to a portfolio of the following private equity investments: funds, secondaries, directs, co-investments and other opportunistic strategies.
According to the firm, this would be Australia’s first global private equity listed investment trust.
Chicago-based global alternative asset manager, Grosvenor Capital Management (GCM), which currently has more than US$51 billion in assets under management in private equity, hedge fund strategies, infrastructure and real estate, would be responsible for selecting the investments for the proposed trust.
Pengana said that most Australian retail investors had very little, if any, exposure to global private equity due to a lack of suitable investment options, including suitable vehicles with daily liquidity.
“We have had constant feedback from clients that they are seeking exposure to global private equity investments, however, this asset class can be challenging for retail investors to access,” PCG’s chief executive, Russel Pillemer, said.
“Pengana believes that private equity markets offer compelling investment opportunities and such investments should play a role in many investors’ asset allocation.
“We have selected GCM as our investment partner due to their excellent reputation and credentials in this space.”
AUTHOR
Oksana Patron
Recommended for you
Global asset manager Janus Henderson could be acquired after receiving a non-binding acquisition proposal jointly from a private investment firm and venture capital firm.
Investment manager Salter Brothers has partnered with private equity firm Kilara Capital to launch an Australian sustainable investment platform focusing on decarbonisation.
Fresh off launching three active ETFs to the Australian market, Avantis Investors is already planning to expand its range with two further products next year.
Ausbil is growing its active ETF range with an ESG product in collaboration with sister company Candriam.
