Hi @powertool - this may have been the fund Pacific Current...

First 17 Last

Share
Profile

Follow
lost

2,798 Posts.

1132

21/08/23

17:30

Post #: 69460925
Share
Originally posted by powertool: ↑

NEWS today.
Pacific Current is believed to be in talks for a deal to buy Fortlake Asset Management for about $70m.
Fortlake describes itself as an experienced fixed-income manager, offering institutional expertise in a specialised setting, focusing on generating returns above inflation.
It oversees the Fortlake Real-Income Fund, which has a minimum return of 2.5 per cent to 3.5 per cent above the prevailing Reserve Bank of Australia cash rate and the Fortlake Sigma Opportunties Fund, where it targets a minimum return of 7 to 10 per cent above the RBA cash rate.
READ NEXT
MINING & ENERGY
Victoria to pay AGL to keep Loy Yang open
COLIN PACKHAM
The fund looks for risk-adjusted return opportunities within global fixed income markets.
Fortlake is founded and run by former UBS Asset Management executive Christian Baylis.
At UBS, Mr Baylis managed over $8bn of assets, and as Head of Derivative Strategy and Credit Trading at the Swiss bank, he managed over $26bn.
It is understood that Pacific Current has issued Fortlake with a term sheet for a potential transaction.
It comes as Regal Funds Management pursues the $545m Pacific Current, launching a $586m proposal that the target has described as opportunistic.
The following day, GQG, which has a market value of more than $4bn, indicated it was considering a bid for Pacific Current.
GQG would easily outmuscle Regal, which would no doubt prompt the group to consider options elsewhere.
Pacific Current’s share price is $10.37, rallying from the $7.80 it was trading at before Regal made its play.
Pacific Current owns 16 high-performing specialist boutiques in key strategic markets, including Australia, India, Luxembourg, the US and Britain.
Regal is already on its register with a 12 per cent interest. Pacific Current has a 4 per cent interest in GQG.

Expand

Hi @powertool - this may have been the fund Pacific Current Management pulled out of earlier this year. The article has changed to say Pacific Current held talks earlier this year.
PAC Price at posting: $10.48 Sentiment: Buy Disclosure: Held
5 Upvote

1 Great analysis

Reply