About 20 per cent of the $55 million in four frozen funds run by Sydney-based PAC Capital are in investments that cannot be sold quickly, according to a person familiar with the situation.
They include investments made by its venture capital fund, which has bought shares in a betting website that was or is controlled by PAC Capital’s owner, Clayton Larcombe.
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Aaron Patrick is the senior correspondent. He writes about politics and business from the Sydney newsroom. Email Aaron at apatrick@afr.com
