Wilson Asset Management (WAM) has confirmed its intention to execute its management proposal to the Blue Sky Alternative Access Fund (BAF) Limited following Pinnacle Investment Management’s decision to withdraw theirs.
In an announcement to the ASX, WAM said it believed its proposal to reposition BAF as a multi-manager diversified alternatives fund would deliver significant benefits to shareholders, including a strong investment management team and independent board, superior growth potential, and a renewed focus on alternative assets.
WAM’s chief investment officer, Geoff Wilson, said the firm would continue to use an investment committee and highly experience investment professionals to assist in the deployment of the multi-manager mandate.
In the announcement, Wilson also said the firm would look to appoint Adrian Siew, who has 22 years’ experience in investment markets, specialising in private equity and alternative assets, as manager of the underlying BAF investment portfolio. Wilson said Siew would also be appointed to the board under the new proposal.
Andy Smith would also be appointed to the investment committee, and would be responsible for the oversight of the investment portfolio of BAF.
Smith has over 30 years’ direct experience in alternative asset investment markets, and previously worked as a strategic advisor in alternative assets, private equity and private debt for Sovereign Wealth Funds.
