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VGI Partners Global Investments Limited

Fund Manager: VGI Partners
Inception Date: Sep 28, 2017

This is a guest post from Steve Green. Steve is a full-time investor with a focus on LICs, event-driven and activist investing. You can follow some of his ideas at his investment blog at Author’s note: In compiling this article I have used data as at 25th April, 2018. Recently I was checking out Morphic Ethical Equities Fund (MEC) and observed how fickle the premium / discount to NTA can behave. It is almost one year since listing and this type of pat ... [More]

VGI Partners, the Sydney and New York-based fund manager, has a reputation for picking the market's winners and losers. In its nine-year history, the fund has never had a larger share of short positions than it does now. Rob Luciano, founder of the $1.1 billion fund, says high market valuations, complacency among investors combined with the rise of "winner takes all" companies has created abundant opportunities for short sellers.   "It's a function of the market environment in terms of prices and valuations, and of not having a clean-out now for eight or nine years," Luciano told The Australian Financial Review.   [More]

Founded in 1998, VGI Partners is a global fund manager based out of Sydney and New York. They are in the process of launching a new LIC, VGI Partners GLobal Investments Limited (VG1), which is seeking to raise up to $400m in their IPO. The IPO is expected to close on 8 September 2017. The IPO has reportedly garnered significant interest, raising $100m in its first week of opening. Who are VGI Partners? Until now only the elite few have had access to VGI partners, with their funds open ... [More]

VGI Partners' IPO exceeds target of $100m

Money Management - Aug 07, 2017

VGI Partners’ initial public offering (IPO) has managed to exceed the minimum raising target of $100 million, in less than a week after the offer opened, thanks to interest from a number of large financial planning groups. The company said its focus was on delivering capital growth over the long-term through investments in a concentrated portfolio of global listed securities and with a strong bias to capital preservation. According to VGI, the initial demand was driven by the syndicate and was supported by a number of large financial planning groups which also expressed support for the manager as well as the relationship between the company and the manager. [More]

VGI Partners Global Investments lodges prospectus

Money Management - Jul 20, 2017

VGI Partners Global Investments has lodged a prospectus with the Australian Securities and Investments Commission (ASIC) and seeks to raise $300 million. The company, whose portfolio would be managed by VGI Partners, would aim to provide investors with access to the manager focused on a capital growth over the long-term through a concentrated portfolio predominantly comprised of global listed securities, with a strong bias to capital preservation. VGI Partners, which was established in 2008 and has an investment team of nine professionals in Sydney and New York currently managing over $1.1 billion, said that its investment strategy would be available “to a broad range of investors”. [More]

The stock exchange is now well and truly the new battleground for Australia's global equity managers as they embrace the listed investment company structure. This week, the prospect of a $1 billion-plus Magellan listing, revealed by Street Talk, caught the burgeoning cottage industry by surprise, adding to an increasingly crowded pipeline of offerings. But Sydney and New York hedge fund VGI Partners is undeterred and on track to issue a prospectus for its own offering within the next two to three weeks.  The $1 billion fund manager is understood to have appointed Commonwealth Bank and National Australia Bank as co-lead arrangers and joint managers, with Crestone, Ord Minnett and Wilsons also assigned joint-lead manager roles. [More]

Sydney and New York hedge fund VGI Partners is plotting a publicly traded listed investment company, preparing its existing investors for a mooted $200 million initial public offering later this year.  In a letter to investors sent late on Tuesday, VGI managing partner Rob Luciano said that the new listed investment company (LIC) would allow his firm to reach its $US1.25 billion funds raised target sooner than expected and with fewer investor relationships, effectively freeing up more time to manage money. In what it described as a "precedent-setting" LIC, VGI said it would absorb all the establishment costs of the new listed company so that the securities would trade in line with their net asset value upon listing rather than a discount, as is usually the case.  [More]

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