Private Equity

Hi Lindsay,

Narrowing down to retail funds available for investment in the PE space does reduce available options:

•  Pengana Private Equity Trust (PE1) is Australia’s only listed vehicle that we know of giving retail investors exposure to a diversified portfolio of global private equity and opportunistic investments, though they can also invest in private credit.  Because it is publicly traded, PE1 offers liquidity (you can buy/sell on the ASX) compared to typical private equity, but that also means its share price can deviate from its net asset value (NAV). The trust targets a cash distribution yield of ~4% p.a plus capital growth when investments are realised.
• VanEck Global Listed Private Equity ETF (GPEQ) is focussed on investing in the private equity companies themselves, rather than an investment in the underlying deals. Similar to investing in Magellan the fund manager , as opposed to one of Magellan’s funds.

In the unlisted (retail) space, Hamilton Lane Global Private Assets Fund gives you a global private markets portfolio (private equity but also some private credit) in a retail-friendly evergreen format.  Min A$25k; monthly subscriptions/redemptions with limited liquidity (capacity-managed).

HMC Capital had one, called the HMC Capital Partners Retail Fund 1, which fed into a wholesale fund, but it looks like that is being wound up, and funds are going back to unit holders.

There are more available through investment platforms like HUB or Netwealth, which makes them accesible to retail investors. Crescent Evergreen Private Equity Fund is one of those with a $50k  min subsription via platform, or $250k when off platform, as is the Ironbark / HarbourVest Diversified Private Equity Fund, which seems to be available to advised retail clients, but only through a platform.

Being a wholesale investor does open up many more options in the PE space – hope this helps!