Australia’s first global private equity listed investment trust is set to be launched by Pengana to give investors exposure to the portfolio. The Pengana Private Equity Trust will provide investors with exposure to a globally diversified portfolio of private equity through an ASX-listed vehicle. Grosvenor Capital Management (GCM) has partnered with Pengana to construct the trust and will help the group to select investments for it.
Grosvenor is a global alternative asset manager with US$52 billion under management and with a long track record of investing in private equity. Private equity in the past has been the domain of institutional investors but, by trading on the ASX, the trust hopes to allow more investors access because of the potential of secondary market liquidity. Pengana’s chief executive officer Russel Pillemer said this trust would give retail investors opportunities they had never had before.
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