Listed in November 2019
KKR Australia, Corporate Advisor
KKR engaged Seed Partnerships as corporate advisor for the IPO of the KKR Credit Income Fund (KKC), which raised $925 million. Seed Partnerships was responsible for managing the Offer, including appointing and coordinating the syndicate, engaging service providers, organising the roadshow and assisting with the media and marketing for the Offer. The Fund aims to provide ASX investors with attractive, risk adjusted returns and access to a diversified portfolio of income generating alternative credit investments with a focus on capital preservation through geographic and asset class diversification.
Seed Partnerships has been retained on an ongoing basis to provide corporate advisory services and to assist in maintaining a high standard of marketing communications and shareholder engagement.
For more information on KKC, please visit www.kkcaustralia.com.au
Listed in June 2019
Regal Funds Management, Corporate Advisor
Regal Funds Management engaged Seed Partnerships to act as corporate advisor for the IPO of Regal Investment Fund (RF1), which raised $281.7 million. Seed Partnerships was closely involved in all aspects of the IPO including assembling a large broking syndicate, organising a substantial roadshow, as well as overseeing media and marketing of the IPO. Seed Partnerships has been retained on an ongoing basis to provide corporate advisory services and to assist in maintaining a high standard of marketing communications and shareholder engagement.
RF1’s objective is to provide investors with exposure to a selection of Regal’s alternative investment strategies anchored by its award winning market neutral strategy, with the aim of producing attractive risk adjusted returns with limited correlation to equity markets.
For more information on Regal Funds Management, please visit www.regalfm.com
Listed in November 2018
Hearts and Minds Investments Limited, Corporate Advisor
Seed Partnerships worked with Hearts and Minds Investments Limited (HM1) to raise $500m for its IPO, the maximum raise for this issue. Seed Partnerships was responsible for managing the Offer including appointing and co-ordinating the Brokers to the Offer, assisting in engaging Service Providers, assisting in the organisation of the investor roadshow and with marketing and communication plans. Seed Partnerships is provided all services on a pro bono basis.
HM1 has been established with the combined objectives of providing a concentrated global equities portfolio of the highest conviction ideas from leading Australian fund managers, while also supporting Australian medical research institutes. The Company will forego any investment fees and instead will apply a Donation Amount to the Designated Charities every six months. The Donation Amount will be equal to 1.5% (plus GST) per annum of the average monthly NTA for the previous half-year. In addition to the Donation Amount, the Company, Fund Managers and a number of the key Service Providers will forgo fees they would normally charge in relation to services provided to the Company.
For more information on HM1, please visit http://www.heartsandmindsinvestments.com.au/
Listed in October 2018
Tribeca Investment Partners, Corporate Advisor
Tribeca Investment Partners employed Seed Partnerships to act as corporate advisor for the IPO of Tribeca Global Natural Resources Limited (TGF). The IPO raised $167.5m which was the largest resource based Listed Investment Company (LIC) to list on the ASX. Seed Partnerships has been retained on an ongoing basis to provide corporate advisory services and to assist in maintaining a high standard of marketing communications and shareholder engagement.
The investment objective of TGF is to replicate the unit trust which aims to deliver 15% p.a. through the cycle regardless of macro-economic conditions and commodity price direction. The team seeks to profit from the inherent volatility in natural resources using a long/short strategy, investing through the capital structure (equity, commodity and credit), and along the value chain (engineering and design/transport and logistics/infrastructure and shipping). The fund is constructed with relatively low gross and low net exposures, and is concentrated (20-60 positions).
For more information on Tribeca Investment Partners, please visit https://tribecaip.com
Listed in May 2018
Gryphon Capital Investments, Corporate Advisor
Gryphon Capital Investments engaged Seed Partnerships to act as the corporate advisor to Gryphon Capital Income Trust (GCI) and has worked closely with the group to raise $475 million in new capital. Seed Partnerships has been retained on an ongoing basis to provide corporate advisory services and to assist in maintaining a high standard of marketing communications and shareholder engagement. This includes helping raise awareness and educating the market on Residential Mortgage Backed Securities (RMBS) and Asset Backed Securities (ABS).
GCI’s objective is to deliver sustainable, monthly income through exposure to the Australian Securitisation market. GCI targets a net return of RBA + 350bps. The trust will achieve this by investing in a portfolio of RMBS and ABS. Gryphon Capital Investments is a secured fixed income specialist and a wholly owned subsidiary of Barings, one of the world’s leading asset managers.
For more information on Gryphon Capital Investments, please visit www.gcapinvest.com
Listed in April 2018
L1 Long Short Fund Limited, Corporate Advisor
L1 Capital engaged Seed Partnerships to act as corporate advisor for the IPO to the L1 Long Short Fund Limited (LSF) offer. LSF raised $1.33bn which is the largest LIC IPO to list on the ASX, and the largest IPO to list on the ASX this year. The substantial amount of funds raised has allowed L1 Capital to close its existing strategies to new investors, return sizeable funds to institutional investors and in doing so, potentially create a scarcity premium for the LSF share price. Seed Partnership engaged a hefty broking syndicate, organised a substantial roadshow (250 meetings) and helped facilitate a strong media presence.
L1 Capital is a global investment manager established in 2007 by Raphael Lamm and Mark Landau. L1 Long Short Fund Limited has been established to provide access to L1 Capitals absolute return strategy that offers investors access to a highly diversified portfolio of long and short positions in both Australian and international equities based on fundamental bottom-up research process. The Fund’s objective is to deliver a net return of at least 10% p.a. to investors with considerably less market risk and volatility. The Fund is designed to provide strong-risk-adjusted returns, with strong downside protection in falling markets.
For more information on L1 Long Short Fund, please visit http://www.l1longshort.com/
Listed in September 2017
VGI Partners Global Investments, Corporate Advisor
VGI Partners employed Seed Partnerships to act as corporate advisor for the IPO to the VGI Partners Global Investments Limited (VG1) offer. The company accepted $550M, which at the time was the largest LIC IPO raising in Australian history, and included a partial scaling of oversubscriptions. The VG1 float was unique in that the Company will recoup all the IPO offer costs from the Manager, and the Manager will pay the vast majority of ongoing administrative overheads. The Australian and New Zealand capital raising was supported by a large broking syndicate and a focused media campaign.
VG1 has been established to provide shareholders with access to a concentrated portfolio, predominately comprised of Long and Short Positions in global listed securities; and the investment expertise of VGI Partners. The Company seeks to provide long term capital growth with a focus on capital preservation; and to deliver superior risk adjusted returns over the long term, which the Manager and the Company considers to be an average compound annual return of 10% to 15% (after all fees and expenses) over a period of more than 5 years. VGI Partners was founded by Robert Luciano and manages in excess of $1.6bn in FUM (as at Sept 2017).
For more information on VGI Partners Global, please visit www.vgipartnersglobal.com
Listed in May 2017
Plato Income Maximiser Limited, Corporate Advisor
Plato Investment Management employed Seed Partnerships to act as corporate advisor for the IPO to the Plato Income Maximiser Limited (PL8) offer. The IPO raised $326m which represents the third largest LIC IPO raising in Australia. The capital raising included a substantial national roadshow, that was supported by an extensive syndicate of brokers and a high profile media campaign.
PL8 has been established to provide shareholders with exposure to an actively managed, diversified portfolio of Australian shares that will seek to pay a monthly fully franked dividend. The company’s investment portfolio will be managed by Plato Investment Management, an investment management firm specialising in maximising retirement income for pension phase investors and SMSF investors. Plato was founded by Dr Don Hamson and manages over $3.5 billion in FUM (Dec 2016).
For more information on Plato, please visit www.plato.com.au
Listed in December 2016
Watermark Global Leaders Fund Limited, Corporate Advisor
Watermark Funds Management employed Seed Partnerships to act as corporate advisor for the IPO to the Watermark Global Leaders Fund Limited (WGF) offer. The IPO raised $91m which was one of the most successful Initial Public Offerings in the ‘alternatives’ space.
The Watermark Global Leaders Fund (WGF) has been established to invest in global listed securities in a market neutral portfolio. Watermark Global Leaders Fund will be managed by Watermark Funds Management, a specialist Long/Short investor with a successful track record investing in Australian and international shares. The Company’s investment objective is to deliver consistent, positive rates of return with reduced market risk.
For more information about WGF, please visit www.wfunds.com.au
Listed in October 2016
Antipodes Global Investment Company Limited, Corporate Advisor
Antipodes Partners employed Seed Partnerships to act as corporate advisor for the IPO to the Antipodes Global Investment Company Limited (APL) offer. The IPO raised $313m which represents the third largest LIC IPO raising in Australia. The capital raising included a substantial roadshow across Australia and New Zealand, supported by a strong syndicate of brokers and a comprehensive media campaign.
APL has been established to provide shareholders with exposure to a high conviction portfolio of global investments, predominantly comprised of long and short positions in international listed securities. The company’s investment portfolio will be managed by Antipodes Partners, a specialist global manager founded in March 2015 by Jacob Mitchell and other like-minded global investors. APL will replicate the investment methodology that is applied to the Antipodes Global Fund.
For more information about APL, please visit www.antipodespartners.com
Listed in May 2016
WAM Leaders Limited
Seed Partnerships played a small role by arranging investor meetings for the IPO capital raising of WAM Leaders Limited (WLE). WAM Leaders raised $394.3m.
WAM Leaders provides investors with diversified exposure to a portfolio of undervalued growth companies within the S&P/ASX 200 Index and exposure to market mispricing opportunities in large-cap companies.
For more information about WLE, please visit www.wilsonassetmanagement.com.au
Option Conversion March 2016
Global Value Fund Limited, Corporate Advisor
Staude Capital Limited, the investment manager for the Global Value Fund Limited (GVF), employed Seed Partnerships as its corporate advisor. Seed Partnerships assisted GVF on its successful options exercise program attaining a higher conversion rate than was expected. Seed Partnerships has been retained on an ongoing basis to provide corporate advisory services and to assist in maintaining a high standard of marketing communications and shareholder engagement.
GVF is an investment company that provides shareholders with the opportunity to invest in a range of global assets all purchased at a discount to their underlying value. By capturing this discount for its investors, the Manager aims to provide an alternative source of market outperformance compared to more common stock selection strategies. The Manager has considerable experience in finding international assets trading at a discount to their intrinsic worth, and in identifying or creating catalysts that will be used to unlock this value.
For more information about GVF, please visit www.globalvaluefund.com.au
Listed in December 2015
Absolute Equity Performance Fund Limited, Corporate Advisor
Absolute Equity Performance Fund Limited (AEG) employed Seed Partnerships as corporate advisor to the offer. The IPO raised the full $100m and was closed early due to an unprecedented level of demand, which saw it well oversubscribed.
AEG aims to generate positive returns regardless of share market performance, through an ‘equity market neutral’ style of investing. The manager deploys a pair trading strategy which seeks to short poorer companies and use those funds to invest in good companies in similar industries. The investments are managed by Sam Shepherd and the team at Bennelong Long Short Equity Management, mirroring the market neutral investment methodology behind the highly successful Bennelong Long Short Equity Fund.
For more information about AEG, please visit www.aepfund.com.au
Listed in September 2015
Future Generation Global Investment Company, Corporate Advisor
Future Generation Global Investment Company (FGG) employed Seed Partnerships as the corporate advisor to the offer. The IPO raised $302.1m, which was the largest ASX LIC IPO in a post GFC environment and the second largest LIC raising to date.
FGG is Australia’s first internationally focused LIC with the dual objectives of providing shareholders with diversified exposure to selected global fund managers and changing the lives of young Australians affected by mental illness.
For more information about FGG, please visit www.futuregeninvest.com.au/global