Pengana Private Equity Trust (ASX: PE1)
PE1 aims to provide investors with access to the top-performing quartile of global private equity managers, and boasts exposure to over 400underlying private companies.
The Pengana Private Equity Trust (ASX: PE1) is a diversified portfolio of global private market investments, with a select allocation to private credit and opportunistic investments. PE1 is Australia’s only listed portfolio of global private market investments.
The portfolio is managed by one of the largest and longest continually operating allocators to alternative investments in the world, Grosvenor Capital Management L.P.
PE1 seeks to generate, over an investment horizon of at least 10 years, attractive returns and capital growth through a selective and diversified approach to private market investments.
PE1 has traded on the ASX since April 2019.
PE1 aims to provide investors with access to the top-performing quartile of global private equity managers and boasts exposure to over 400 underlying private companies.
Grosvenor Capital Management, L.P. (“GCM” or “Investment Manager”) is the investment manager of the Trust.
GCM, in combination with its affiliate, GCM Customized Fund Investment Group, L.P. (“GCM CFIG”, and together with GCM and their respective affiliates and predecessor firms, “GCM Group”), is a global alternative asset management firm with assets under management (“AUM”) in excess of US$70 billion. GCM Group invests across a broad range of alternative strategies and asset classes including private equity, infrastructure, real estate, hedge funds and strategic investments.
In providing investment management services to the Trust, particularly with respect to investments in private equity, GCM will utilise resources across the GCM Group. Within private markets, the GCM Group has a track record that dates back to 1999.
GCM Group has been investing in alternatives since 1971 and has been a capital partner to leading private equity managers since 1999. GCM Group is a globally recognised alternative asset manager with more than US$52 billion of AUM and over US$24 billion in private equity, real estate and infrastructure AUM.
GCM Group has in excess of 500 underlying investment manager relationships with Commitments in over 800 Underlying Funds and investments in over 200 Co-investment opportunities.
The Trust is the first private equity-focused fund managed by GCM that invests for an indefinite period of time.
Objective
The Trust seeks to generate, over an investment horizon of at least 10 years, attractive returns and capital growth through a selective and diversified approach to private markets, including private equity, private credit, and other opportunistic investments.
Strategy
The Trust seeks to provide investors with a diversified set of exposures to private markets, including private equity, private credit, and other opportunistic investments. In executing the Investment Strategy and seeking to achieve the Trust’s Investment Objective, GCM will construct a customised portfolio consisting of investments in Private Investment Funds made on a Primary basis (i.e., an interest in a newly established Private Investment Fund offered by the operator of the Private Investment Fund) or on a Secondary basis (i.e., an interest in an existing Private Investment Fund purchased from an existing third party investor in the Private Investment Fund), as well as Co-investments and direct investments. The Trust may invest either directly or indirectly through investments in one or more GCM Funds, or vehicles managed by third-party investment managers.
The Portfolio will seek diversification by strategy, manager, sector, geography and Vintage, primarily in the established markets of North America and Western Europe, with opportunistic exposure to other regions.
The latest report can be reviewed here
Please visit our website to view our current Unit Price and Portfolio of Companies.
Pengana Capital offers investors access to some of the world’s best investment managers, all under one roof.
Founded in 2003 and headquartered in Sydney, with offices in Melbourne, Brisbane, and Adelaide, Pengana manages a range of international and Australian strategies on behalf of our investors.
We hunt for the world’s leading investment teams in order to bring our investors unique, differentiated, and smart investment products.
Our unique business model also delivers centralised support from our corporate team, so our fund managers can focus on what they do best – managing portfolios.
Pengana’s premium investment products employ active strategies with non-benchmark mandates, giving our investment teams the freedom to invest in their best ideas.
With independent investment teams in Chicago, Connecticut, New Jersey, United Kingdom, Israel, Melbourne, and Sydney, our range of independently managed investment strategies provides a well-blended and uncorrelated level of diversification.
Each strategy is run by a separate investment team with unique skills relevant to their investment class. Our focus and track record is to provide investors with long-term returns, adjusted for risk minimisation.
For investors seeking an investment that suits their ethical viewpoint as well as their financial goals, Pengana also offers a range of products that allow investors to align their portfolios with their principles without compromising their investment returns.
Mr Levin is GCM Grosvenor’s President and is responsible for the day-to-day management of the business. Mr Levin is Chair of the Global Investment Council and a member of the Investment Committees for Private Markets, Hedge Fund Strategies Seeding and the Strategic Investments Group.
Prior to joining GCM Grosvenor, Mr Levin was the Treasurer and Head of Investor Relations at Kohlberg Kravis Roberts & Co., where he was responsible for managing KKR’s balance sheet investments, engaging with the public investors and industry analysts, and leading strategic projects.
Prior to his role as Treasurer and Head of Investor Relations, Mr Levin worked in KKR’s private equity business and focused on investments in the financial services industry.
Mr Levin began his career as an Analyst in the private equity group of Bear Stearns. He holds an A.B. in Economics from Harvard College. Mr Levin is a member of the Board of Directors of the Ann & Robert H. Lurie Children’s Hospital of Chicago.
Mr Metakis is a member of GCM Grosvenor’s Private Markets Investment Committee and serves on the Global Investment Council. He focuses on private equity co-investments and direct investments and is responsible for deal sourcing, due diligence, and managing client relationships.
Prior to joining GCM Grosvenor, Mr Metakis was a Partner in the Customized Fund Investment Group of Credit Suisse Group AG, which he joined in 2010.
Previously, Mr Metakis was a Principal with DLJ Merchant Banking Partners, which he joined in 2001. Mr Metakis has served as a Director or Board Observer of various public and private portfolio companies.
Prior to that, Mr Metakis was an investment banker at Donaldson, Lufkin & Jenrette, beginning in 1999.
Mr Metakis received an A.B. with honors in Economics from Harvard College in 1999 and a Master of Business Administration from Harvard Business School in 2004.
Mr Pollock is Head of GCM Grosvenor’s Strategic Investments Group, a member of the Investment Committees for Private Markets and Hedge Fund Strategies, Co-Head of Hedge Fund Strategies Research and serves on the Global Investment Council. He also Chairs the Strategic Investments Investment Committee.
Prior to joining GCM Grosvenor, from 2006 to 2015, Mr Pollock had various roles at Morgan Stanley, most recently as Senior Adviser to its merchant banking division. In his roles at Morgan Stanley, Mr Pollock specialized in infrastructure investments and was responsible for deal sourcing and due diligence, assessing proposed investments, managing the financing and realization process, and is a Board Member of various portfolio companies.
He helped form the infrastructure investment group at Morgan Stanley in 2006 and structured and raised capital for its initial funds. In addition, Mr Pollock founded a boutique investment company in 2010 and was a Managing Partner at the company until 2014.
Prior to joining Morgan Stanley, he was an Assistant Vice President at Deutsche Bank, where he made direct investments.
He received his Bachelor of Science summa cum laude in Economics from the University of Nevada in 2001 and his Juris Doctor magna cum laude from Harvard Law School in 2004.
PE1's latest monthly update can be found here
More information on PE1 can be found here
- By clicking the enquire button on the card view
Or
- By selecting “Receive Info” when viewing the listing
We will respond using your preferred communication method (i.e., email or phone).
Tags
Published by Pengana Capital Limited
Statutory Statement
The issuer of this product is identified at the top of this page. The PDS and target market determination for the product are available in the Documents section of this listing. Prospective investors should consider the PDS before deciding to acquire the product. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets (Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
General Disclaimer
IMPORTANT STATEMENT ABOUT YOUR USE OF THIS SITE
Information on this site is intended for Australian users only.
This site is operated by Investment Markets (Aust) Pty Ltd. (ACN 634 057 248) (IMA, we, us and our), the holder of Australian Financial Services Licence (AFSL) no. 527875. The content is provided solely for information purposes, is not a recommendation or an offer to buy or sell a security, and is not warranted to be correct, complete or accurate. To the extent permitted by law, neither IMA, its affiliates, nor the content providers (such as the issuers of securities who appear on the site) are responsible for any investment decisions, damages or losses resulting from, or related to, the content, data and analyses or their use. The investment products on this site and any statements made about them by their issuers are not vetted, verified or researched by IMA. The presence of an investment product on this site should not be interpreted as an implied endorsement of it by IMA. Certain content provided may constitute a summary or extract of another document such as a Product Disclosure Statement. To the extent any content is general advice, it has been prepared by IMA. Any general advice has been provided without reference to your investment objectives, financial situations or needs. For more information refer to our Financial Services Guide. To obtain advice tailored to your situation, contact a financial advisor. You should consider the advice in light of these matters and, if applicable, the relevant Product Disclosure Statement (or other offer document) before making any decision to invest. Past performance does not necessarily indicate an investment product’s future performance. The content is current as at date of initial publication and may not be current as at your date of viewing. For a more complete understanding of all the terms and conditions of your use of this site click here.