The capital will be used to increase Blue Sky’s actively managed portfolio of alternative assets across private equity and venture capital, water and agriculture, hedge funds and private real estate, a Blue Sky-issued statement said.
Blue Sky chief investment officer Alexander McNab said alternatives “enhance the risk/return characteristics of a portfolio”.
“The LIC gives investors the opportunity to invest in alternative assets through an ASX-listed structure that is more readily accessible and liquid than typical alternative assets,” Mr McNab said.
“Alternative assets have the potential to enhance returns, and with the share market and property valuation looking stretched, the diversification alternative assets provides is key to reducing a portfolio’s volatility and correlation to traditional markets.”
The capital raised is likely to be deployed in the next three months, according to the statement.
“We have a strong pipeline of investment opportunities across a wide variety of alternative assets,” Mr McNab said.
Blue Sky Alternatives Access Fund is listed on the ASX and allows investors to allocate to a portfolio of directly managed alternative assets.
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