Journalist: Jemima Whyte, Senior Reporter. Australian Financial Review.
Photo credit: Natalie Boog
View the original AFR article HERE.
Fund manager Pengana Capital has hired former Canaccord executive Phil Schofield to establish a capital markets division that will advise smaller companies and offer a more regular stream of investments to Pengana clients.
Pengana co-founder and chief executive Russel Pillemer, who worked with Mr Schofield at Goldman Sachs many years ago, said he hoped to have a few deals – which would range from private or public equity and debt raisings – in the market quickly.
“Our business has, over the last few years, been moving much more to be private markets focused. Originally, our business was strictly listed equities,” he said, adding that Australia was catching up to the broader trend of private market growth. The trend had been accelerated further with listed equity markets being “quite inaccessible”.
“There’s absolutely no shortage of money that we have in our client base for these opportunities. So it’s about the right opportunities,” he said.
Mr Schofield said Pengana might look to hire more people for the division in time, but wasn’t planning to do so straight away.
Get monthly insights and market commentary direct to your inbox