Blue Sky in capital raising
Alternative investment asset manager, Blue Sky Alternatives Access Fund Limited announced this week it was raising up to $20 million through a one for three non-renounceable entitlement issue of new ordinary shares.
It described the Blue Sky Alternatives Access Fund as Australia's only listed diversified alternatives investment vehicle with the directly-managed portfolio invested across private equity and venture capital, water and agriculture, hedge funds and private real estate.
Commenting on the move, Blue Sky chief investment officer, Alexander McNab said the capital raising represented a chance for investors to increase their exposure to alternatives as value in traditional asset classes became increasingly hard to find.
"Alternatives are becoming mainstream, they are the fastest growing asset class in Australia. The market is starting to understand the benefits of diversification and the increased returns an allocation to alternatives can bring to a portfolio," McNab said.
Under the entitlement offer, eligible shareholders have the opportunity to subscribe for new shares at the issue price of $1.00. The company said this represented a discount of 9.4 per cent to the ten day volume weighted average price (VWAP) of the company's shares traded on the Australian Securities Exchange over the ten days up to and including 10 April 2015.
The entitlement offer closes at 5pm AEST on Friday 1 May 2015.
Recommended for you
Lonsec Research and Ratings has appointed a head of sales, completing the leadership team to boost its reach with financial advisers.
Allianz Retire+ has announced major leadership changes with the appointment of a new CEO and distribution heads to help expand its presence across the wealth channel.
The RBA assistant governor (business services) is set to speak at the Women in Finance Summit 2025, taking place this November.
Momentum Media’s wealth publishing network is pleased to announce the launch of the annual Australian Wealth Management Summit 2025.
