Melbourne-based Auctus Alternative Investments has established a US asset management business as part of a joint venture.
Auctus has locked down a 30 per cent equity shareholding in the new company, RBP Partners, with the New York-based investment team controlling the remaining 70 per cent.
The stake will take the Australian fund manager’s assets under management and advice to more than $50 million.
Auctus will invest US$250,000 from revenue inflows into RBP Partners and issue its investment team a total of 1.5 million options, with strike prices of 60 cents and $1.
The partnership’s initial investment will be in esVolta, a battery storage company focused on developing and acquiring large-scale projects for utility customers in North America.
Auctus is currently in the process of closing a US$25 million capital raise via a special purpose vehicle to fund esVolta’s next stage of expansion.
The team is said to have significant experience investing in infrastructure in the region along with specialty operating real estate platforms.
It is targeting energy transformation and operational infrastructure as specific sectors for further expansion.
On Thursday afternoon, Auctus’ share price sat at 29 cents, down from the prior year when it was 44 cents.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
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