Pengana Private Equity Trust (ASX: PE1): Accessing the world’s hardest-to-reach growth assets
After a prolonged reset across private markets, conditions are now turning. Transaction activity is lifting, capital markets are reopening, and exit pathways are becoming clearer, setting up a more constructive environment for private equity investors in 2026.
Pengana Private Equity Trust (ASX: PE1) gives Australian investors access to global private markets via a single ASX-listed vehicle, providing diversified exposure across private equity, private credit and opportunistic investments.
Joining The Stock Network’s Lel Smits, Executive Director Adam Myers discusses what’s changing, why it matters, and how investors can access global private market leaders through Pengana Private Equity Trust.
1. Portfolio positioning for 2026. After a tough few years for private equity, the environment finally feels like it’s shifting. From your seat, what’s actually improving on the ground – deal activity, valuations, exits – and how Pengana Private Equity Trust is positioned to take advantage as conditions turn more favourable in 2026?
2. Private markets and differentiated return drivers. One of the biggest shifts you’ve flagged is capital markets reopening. How important is this reopening for private equity returns and sentiment, and how does Pengana Private Equity Trust’s exposure to assets like SpaceX and OpenAI fit into that opportunity set?
3. Accessing private markets through PE1 For investors who may be less familiar with private markets, how do they actually access Pengana Private Equity Trust?
None of Pengana Private Equity Trust (“PE1”), Pengana Investment Management Limited (ABN 69 063 081 612, AFSL 219 462) (“Responsible Entity”), Grosvenor Capital Management, L.P., nor any of their related entities guarantees the repayment of capital or any particular rate of return from PE1. Past performance is not a reliable indicator of future performance, the value of investments can go up and down. This document has been prepared by the Responsible Entity and does not take into account a reader’s investment objectives, particular needs or financial situation. It is general information only and should not be considered investment advice and should not be relied on as an investment recommendation. Pengana Investment Management Limited (Pengana) (ABN 69 063 081 612, AFSL 219 462) is the issuer of units in the Pengana Private Equity Trust (ARSN 630 923 643) (the Trust). Before acting on any information contained within this report a person should consider the appropriateness of the information, having regard to their objectives, financial situation and needs. An investment in the Trust is subject to investment risk including a possible delay in repayment and loss of income and principal invested.
