Washington H. Soul Pattinson, the conglomerate that has holdings in New Hope, TPG Telecom, Pengana Capital and Brickworks, has reallocated nearly $1 billion of capital into private markets over the past year.
The tilt revealed in the annual results released yesterday comes as investors see equities as too expensive and lower yielding.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
