VGI Partners Global Investments has lodged a prospectus with the Australian Securities and Investments Commission (ASIC) and seeks to raise $300 million.
The company, whose portfolio would be managed by VGI Partners, would aim to provide investors with access to the manager focused on a capital growth over the long-term through a concentrated portfolio predominantly comprised of global listed securities, with a strong bias to capital preservation.
VGI Partners, which was established in 2008 and has an investment team of nine professionals in Sydney and New York currently managing over $1.1 billion, said that its investment strategy would be available “to a broad range of investors”.
VGI Partners’ founder and managing partner, Robert Luciano said: “VGI Partners seeks to “buy and hold” long-term investments in what we consider to be great businesses that are not fully valued by the market, while also short selling securities which we asses to be vulnerable to a material decline in price”.
As far as the structure of the relationship between the company and VGI Partners as manager was concerned, VGI Partners’ executive chairman, David Jones, said: “We have sought to replicate the partnership and alignment of interests that is shared today between VGI Partners and its existing investors”.
The company said it would seek to raise up to $300 million, with the ability to accept an additional $100 million in oversubscriptions.
Shares would be issued at $2 per share.