Pengana’s trust IPO exceeds $100 mil minimum
Pengana Capital Group (PCG) has announced that the proceeds from the initial public offering (IPO) for its Private Equity Trust have exceeded the minimum offer of $100 million thanks to the interest from both advisers and retail investors.
The trust, which was launched on the Australian Securities Exchange (ASX) earlier this month, aimed to provide investors with an exposure to a portfolio of global private equities with a select allocation to private credit, it said.
The trust also offered access to all major platforms such as IDPS and super/pension, including Asgard, BT Panorama, BT Wrap, HUB24, MLC Wrap, Macquarie, Mason Stevens, Navigator, Netwealth and Powerwrap.
“This is the first time that Australian retail investors have been able to access global private equity, via a listed vehicle,” Russell Pillemer, chief executive of PCG said.
“Combined with positive research coverage and wide-scale platform access, this provides investors and advisers with convenient access to invest in this exciting investment opportunity which has previously only been accessible to large sophisticated investors.”
The offer was expected to close on 10 April, 2019.
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