ASX-listed Pacific Current has bucked an industry trend to report fund growth
Regal Partners and GQG are in a potential bidding war for control of the company
The board of the owner of boutiques funds is due to update shareholders
Pacific Current Group, the ASX-listed owner of boutique investment managers and the subject of a bidding war, says the fundies it backs have withstood tough fundraising conditions to grow their assets by 9 per cent during the quarter to $204.4 billion.
The group owns minority stakes in 10 fund managers and said that stronger equity markets and private capital raisings meant that funds under management, adjusted for ownership, increased from $US13.4 billion ($20 billion) to $US14.1 billion.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
