Float bolsters ING PEAL

ING’s Private Equity Access Limited fund of funds has added the recently floated Walter Diversified Services to its portfolio, as part of its strategy to make company floats usually only accessible by institutional investors available to those of a smaller retail scale.

The Walter float, which listed on the Australian Stock Exchange on December 7 and reached a premium of 20 per cent on its issue price, was added in response to specific demand from PEAL investors.

Shareholders were recently asked to register their interest in receiving prospectuses for initial public offers, in a bid to discover innovative ways to deliver returns in a highly competitive investment market.

“ING PEAL is in an ideal position to use its private equity relationships to ensure our investors have access to a range of such transactions,” Jon Schahinger, managing director of ING PEAL, said.

He said that while the main aim of ING PEAL is to provide high returns through the private equity portfolio, “if we can add value for shareholders in other ways, we will do so”.

The fund of funds, which comprises a diverse mix of underlying private equity fund managers, gives exposure to over 45 companies spread across various industries including Kathmandu Clothing, the packaging company Aperio Group, Australian Water Systems, Australian Seniors Finance and electrical appliance retailer Godfreys.