Street Talk

Pengana Capital puts $1b roll-up plan to E&P’s private equity funds

Anthony Macdonald, Sarah Thompson and Kanika Sood

Feb 23, 2023 – 9.35pm

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The E&P rolling disaster looks set for another instalment - this time at its “Cordish Dixon” private equity funds management arm.

Only six months after E&P had to cancel plans to internally merge and delist three ASX-traded Cordish Dixon funds (and a fourth non-listed fund), the funds are trading at 30 per cent-plus discounts to net asset value and investors are still seething.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au