Perennial sees strong demand for unlisted space
Strong demand from wholesale investors interested in the unlisted space has seen Perennial Value’s pre-IPO Opportunities Fund attract $50 million only weeks after it announced plans for a new Private to Public Opportunities Fund, the firm said.
The new fund, which would close on 16 August, would be an extension of the firm’s Microcap Opportunities Trust which invested primarily in private companies that became public.
The microcap fund reached the targeted capacity of $200 million and closed, returning 30.4 per cent per annum net of fees since inception.
Perennial’s managing director, John Murray, said: “We’ve been very pleased by the strong demand from wholesale investors for this new fund, in particular high net wealth and family office investors”.
“They recognise there’s a gap in the market for opportunities to invest in early-stage companies requiring growth capital,” he said.
Performance of the Perennial Value Microcap Oppoeruntites Trust since 2017
AUTHOR
Oksana Patron
Recommended for you
Insignia Financial has reported net inflows of $448 million into its asset management division in the latest quarter, as well as popularity from advisers for its MLC managed accounts.
With ASIC questioning the dominance of research houses when it comes to retail usage of private market funds, a research house has shared how its ranking process sits alongside ASIC’s priorities.
Two Australian active fund managers have been singled out by Morningstar for their ability to achieve consistent performance and share price growth in the past 12 months.
Pinnacle Investment Management has expanded its private market coverage, forging a strategic partnership with a private markets manager via a 13 per cent stake acquisition.
