Pengana Capital Group has announced that it will be launching an ASX-listed investment trust next year to invest in global private equity.
This would be Australia’s first global private equity-listed investment trust that will provide investors with an exposure to a diversified portfolio.
Pengana believes that investors are attracted to global private equity due to the potential for higher returns than traditional stock and bond markets which is why they are launching this fund.
PCG’s chief executive Russel Pillemer said that many of their clients were seeking global private equity investments but it can be challenging to access.
“Pengana believes that private equity markets offer compelling investment opportunities and such investments should play a role in many investors’ asset allocation,” he said.
Mr Pillemer said PCG had selected Grosvenor Capital Management as their investment partner. GCM would be responsible for selecting the investments and constructing the portfolio.
“We have selected GCM as our investment partner due to their excellent reputation and credentials in this space,” he said.
GCM is a global alternative asset manager which currently has more than US$51 billion in assets under management.
Pengana believes that investors are attracted to global private equity due to the potential for higher returns than traditional stock and bond markets.