Despite being a growing reservoir of funds under management, this critically important pool of capital is confronting mounting problems collating and disseminating key data in a timely manner.
The ratings house is pinning its growth strategy on a revamped methodology that increases the emphasis on governance to 25 per cent – a timely move considering APRA’s proposed reforms.
… as Partners Group launches liquid PE fund
(Pictured: Martin Scott)
Global private equity specialist Partners Group has launched an Australian dollar unit trust for the platforms market with monthly liquidity and offering applications and redemptions prices at net asset value.
The fund is based on a seven-year-old global fund which has more than 2,500 individual positions. It also contains a lot of ‘secondaries’ in the portfolio, according to Martin Scott, managing director and head of Australia for Partners Group. “It has mezzanine and income-yielding investments… which is how we can offer that liquidity,” he said.
The fund – ‘the global value fund’ – has been added to the BT Super Wrap and Macquarie Wrap platforms. It has been ‘highly recommended’ by Lonsec and ‘recommended’ by Zenith.
The underlying fund has the ability to be ‘gated’ if necessary but Partners Group has not done so since inception.
The fund has produced outperformance of public markets of 40 per cent, net of fees, with less than half the volatility, according to the manager.
