As the big money battle for funds management play Pacific Current is heating up, one of the suitors speaks out.
Nearly two months after it was put in play, the company has collected indicative bids, shortlisted multiple parties for a proper look under the bonnet and is calling for binding offers in about four weeks.
If there are a couple of winning tickets among those 15 boutiques, then Pacific Current’s buyer is getting a bargain. If not, then it’s a dud. A opportunity comes around – and one compelling enough to overcome the usual pitfalls associated with funds management deals, which often end badly for acquirers.“We know it extremely well, it is slightly diversifying, it can be run independently – all the pitfalls of MHe says it is all about potentially adding value for the firm’s clients, who are split roughly 50/50 between global institutions and retail investors in the US, Australia and the UK .
Does it really want to move away from its highly focused listed equities strategy and get into the sorts of products that Pacific Current is pushing?“The whole industry, is, in my view, likely to increase its exposure to private markets,” he says. The move mirrors Pacific Current’s own strategy; it started backing listed equities managers , but the bulk of its managers today are in private markets: private equity, private real estate and private credit.
Sceptics would say this is just about creating a second bidder to push Regal/River. Carver says it is not; it is about creating value for QGQ clients and shareholders.
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