UNIT
PRICE
NTA
PRE-TAX1
PERFORMANCE SINCE INCEPTION2,3
TARGET DIVIDEND YIELD4
Access to the world of Private Equity.
The Pengana Private Equity Trust (ASX: PE1) gives investors the opportunity to access a diversified portfolio of global private market investments, with a select allocation to private credit and opportunistic investments. PE1 has traded on the ASX since April 2019.
The Trust is managed by Grosvenor Capital Management L.P, one of the largest and longest continually operating allocators to alternative investments in the world.
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.
Income.
PE1 targets a cash distribution yield equal to 4%p.a.[2]
Access.
The Trust provides investors with exposure to oversubscribed or difficult-to-access middle-market managers globally via a single point of entry to a well-diversified portfolio of private equity investments.
Liquidity.
The structure of the listed Trust allows small and large investors to gain exposure to private equity with the flexibility to buy and sell units on the ASX so long as an active market exists.
The Pengana Private Equity Trust is Australia’s only listed portfolio of global private market investments, trading on the ASX as PE1. In an effort to help educate investors on this exciting and under-accessed asset class, Pengana’s consulting economist Steven Milch has crafted a comprehensive 4 part white paper series on Listed Private Equity: Private Equity Reimagined.
Private Equity Reimagined. Get all 4 whitepapers direct to your inbox.
You can view a summary of the risks associated with the trust here.
1 Sources: S&P Capital IQ (utilising certain information obtained from its database) for public and private company data as of 2 January 2020. Includes all private companies with revenues ≥ US$15 million. S&P Capital IQ has not provided consent to the inclusion of references to its databases and publications or material drawn from the databases and publications.
2. The targeted distributions are only targets and may not be achieved. Investors should review the summary of risks which is outlined in the PDS.
SUBSCRIBE TO OUR MONTHLY NEWSLETTER
THE TEAM
Jason L. Metakis
Managing Director, GCM Private Markets Investment Committee Member
Read full profile >
Frederick E. Pollock
Managing Director, Head of GCM Strategic Investments Group and Portfolio Manager of Pengana Private Equity Trust (PE1)
Read full profile >
RATINGS
Lonsec Recommended Rating
Independent Investment Research
REPORTS AND RESOURCES
- Monthly Reports
- August 2021 - Bolting to new highs
- July 2021 - Investment in Rivian – A first mover in the EV market for SUV's, vans and trucks
- June 2021 - Strong close to an excellent year for PE1
- May 2020 - Filling up the secondaries' bucket
- April 2021 - Coffee Stores in China and Tires in the USA
- March 2021 - Quality secondaries acquired at a significant discount
- February 2021 - Portfolio companies making head way with fundraisings and distributions
- January 2021 - Performance Review & Capital Deployment Update
- December 2020 - Semi-annual Distribution and POINTCLICKCARE
- November 2020 - Investing in great tech companies PRE-IPO
- October 2020 - Waterland, SpaceX & Uber Freight
- September 2020 - MAC II investments start bearing fruit
- August 2020 - AUD continues to rise during August
- July 2020 - How 10 of our largest holdings are performing through COVID
- June 2020 - Performance update
Unitholders
Ellis Varejes
Non-Executive Director and Chairman
Bachelor of Commerce and Law, Member of the Australian Institute of Company Directors and of the Law Society of New South Wales
Ellis was a lawyer in private practice in Sydney for 25 years, working in corporate advisory, capital markets and financial services law. Following that, Ellis was for over a decade the chief operating officer of Abacus Property Group. Currently, Ellis is a director of Equity Trustees Superannuation Limited and provides corporate advisory services advice to the financial services sector.
Ilan Zimerman
Non-Executive Director
Bachelor of Arts and Laws as well as an MBA all from the University of the Witwatersrand, South Africa. He also holds an Applied Diploma in Corporate Governance.
Experience and expertise: Ilan is a solicitor of over 30 years standing.
Russel Pillemer
Executive Director
Bachelor of Commerce (Hons) from the University of New South Wales, Member of Chartered Accountants Australia and New Zealand
Russel co-founded Pengana in 2003 and has been Chief Executive Officer since inception. Prior to founding Pengana, Russel worked in the Investment Banking Division of Goldman Sachs in New York where he specialised in providing advice to funds management businesses. Before moving to New York, he was responsible for leading Goldman Sachs’ Australian Financial Institutions Group. He was previously Chairman of Centric Wealth Group and a Principal of Turnbull Pillemer Capital.
Special responsibilities: Chief Executive Officer and Managing Director
Katrina Glendinning
Executive Director
Bachelor of Economics from the University of Sydney, Member of Chartered Accountants Australia and New Zealand, Fellow of FINSIA, Graduate of the Australian Institute of Company Directors
Katrina has been Chief Operating Officer and Chief Financial Officer of Pengana since its inception in 2003. She is an experienced funds management professional, who has worked on a diverse range of products for more than 25 years. Prior to joining Pengana, Katrina was an Executive Vice President at BT Financial Group (‘BT’) where she held a number of roles from 1993 to 2002, including Chief Operating Officer BT Portfolio Services.
Special responsibilities: Chief Financial Officer
NEWS AND INSIGHTS
Private Equity Reimagined
Print PDF Version A brief overview Historically, private equity investments have primarily only been accessible to large and sophisticated institutions,...
PE1 Secondary Transaction Overview
PE1 had an active quarter in the Secondaries market, culminating with a very significant transaction in June with the acquisition of a diversified portfolio of over 35 mature private equity funds at a significant discount to Net Asset Value.
PE1: Latest holdings and valuations
Fund Manager Fred Pollock provides a portfolio update and insights from the reporting season. CPD points applicable for Australian Financial...
1. The NAV is unaudited.
2. Performance figures are calculated using net asset values after all fees and expenses, and assume reinvestment of distributions. No allowance has been made for buy/sell spreads.
3. Past performance is not a reliable indicator of future performance, the value of investments can go up and down. The net return has been determined with reference to the increase in the Net Asset Value per Unit, as well as of the reinvestment of a Unit’s distribution back into the Trust pursuant to the Trust’s distribution reinvestment plan (“DRP”). Pengana has established a DRP in respect of distributions made by the Trust. Under the DRP, Unitholders may elect to have all or part of their distribution reinvested in additional Units.
4. The NAV per unit at inception is based on the subscription price per unit which is equal to $1.25.
5. From 1 July 2020, Pengana intends to target a cash distribution yield equal to 4% p.a. (prorated on a non-compounded basis) of the NAV (excluding the total value of the Alignment Shares but including the cash distribution amount payable) as at the end of the period that a distribution relates to. The targeted distribution is only a target and may not be achieved. Investors should read the Risks summary set out in Section 11 of the IPO PDS.