Former CEOs raise $150 million for new disruptive fund
Evans and Partners founder, David Evans, has assembled former chief executives to raise up to $150 million for the soon to be released Australian Securities Exchange (ASX)-listed Global Disruption Fund.
The investment committee would also include:
- David Thodey, former CEO of Telstra and current chairman of CSIRO;
- Richard Goyder, managing director of Wesfarmers;
- Paul Bassat, co-founder of Seek and Square Peg Capital;
- Sally Herman, director of Suncorp Group Limited; and
- Jeffrey Cole, research professor and director of the Centre for the Digital Future of USC Annenberg.
The new fund would be expected to provide investors with exposure to big name technology companies, benefiting from disruptive innovation, and would offer diversification from traditional Australian equities.
The initial portfolio would include Amazon, Facebook, Alibaba, Netflix, Apple, Microsoft and Visa.
However, the fund would also invest in a selection of smaller companies with the potential to “successfully disrupt existing markets”.
Walsh & Company Investments Limited has been chosen as the fund’s responsible entity.
Units in Evans and Partners Global Disruption Fund would be issued at $1.60 each and would be expected to trade on the ASX from 31 July.
AUTHOR
Oksana Patron
Recommended for you
Selfwealth has provided an update on the status of its scheme implementation deed with Bell Financial Group as well as whether rival bidder Svava remains in the picture.
Magellan Financial Group has reported its first half FY25 results while appointing a new chief financial officer and promoting Sophia Rahmani to chief executive.
Schroders Australia has launched two active ETFs and plans to further expand its listed range over the year ahead.
Platform Netwealth has reported its financial results for the first half of FY25, reporting an 80 per cent increase in net flows, with its CEO viewing a “huge opportunity” from private assets.
