Australia's only listed alternative investments firm Blue Sky Alternative Investments has reported a $3.59m net profit after tax and 48% growth in revenue for the full year ending 30 June 2013.
In August 2013, Blue Sky completed a successful private share placement, raising an additional $6.83m, which will be used to co-invest in Blue Sky managed funds.
In the last 12 months, the company increased its assets under management (AUM) from approximately $200m to $350m.
Founder and managing director Mark Sowerby said the 2013 financial year had seen Blue Sky reach several milestones and build the foundation for its next level of growth.
"We have expanded our investment teams, infrastructure, systems and distribution channels while maintaining performance across the group's funds at better than 15% per annum compounding since inception," he said.
"In a low growth economic environment, investors continue to seek out new ideas, absolute performance and alignment. This is driving a greater proportion of global savings to alternative assets."
"Our offerings across private equity, private real estate, hedge funds and real assets (currently water and water infrastructure) uniquely position us to participate in these global trends," Mr Sowerby said.
Blue Sky was listed on the Australian Securities Exchange in January 2012. Established in 2006, Blue Sky has generated strong returns uncorrelated with Australian listed equity markets. The firm has offices in Brisbane, Sydney, Adelaide and New York, a team of over 40 and a broad investor base including institutional, wholesale and retail clients.
Alternative assets include direct investment in private equity, real estate, infrastructure, hedge funds and other real assets.
This article was published in Opalesque's Asia Pacific Intelligence our monthly research update on alternative investments in the Asia-Pacific region.