Alternatives fund manager Blue Sky has successfully completed a $47 million capital raise for its LIC vehicle.
The Blue Sky Alternatives Access Fund Limited announced on Friday the successful completion of a $47 million capital raise.
The funds were raised through a one for three non-renounceable entitlement offer to existing investors and a shortfall offer to new investors, according to a statement by Blue Sky.
The shortfall facility was opened on Thursday, 10 November offering 22,090,078 new shares, and was closed on the same day after being "heavily oversubscribed".
The facility was managed by Ord Minnett, Morgans Corporate and Shaw and Partners as joint lead managers.
Allotment of the new shares under the shortfall facility is scheduled to take place on 25 November 2016, said the company.
Blue Sky Alternatives Access Fund director Andrew Champion said, "We continue to see a strong flow of investment opportunities across all of Blue Sky’s alternative assets classes and the capital raised will allow us to continue to broaden and deepen our portfolio of alternative investments."