Thu, Jul 24, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Treasury Group invests in Evergreen Capital Partners

Tuesday, May 29, 2012
Opalesque Industry Update - Treasury Group Limited (TRG) is pleased to announce that it has acquired a minority equity interest in Evergreen Capital Partners Pty Ltd (Evergreen), a Melbourne based absolute return manager. This investment by TRG builds upon the existing relationship between TRG and Evergreen which was initiated in December 2011 when Evergreen was appointed to assume management responsibility for the Ascot Fund. Founded in 2009 by Tim Hannon, Evergreen is a boutique funds management business with a focus on management of ASX listed equities via an absolute return style. Evergreen’s flagship fund is the Evergreen Australian Equities Return Fund through which it seeks to generate investment performance via systematic exploitation of market inefficiencies whilst also seeking to preserve capital.

In addition to its core equities focus, Evergreen has a joint venture with Freehold Investment Management. The JV manages Australian real estate and infrastructure securities. This business is operated separately from the equities business and is led by Andrew Smith.

Currently, Evergreen manages approximately $100m in funds on behalf of high net worth individuals, family offices and institutions. The property JV currently has $70m in funds under management.

Andrew McGill, Chief Executive Officer of TRG said “Evergreen has generated enviable returns for investors across the volatile equity market conditions that we’ve seen over the past few years. The enthusiasm, passion and focus on client outcomes of the Evergreen team underpin their success to date.”

TRG is very pleased to partner with Evergreen at this point in its development and is confident that the strength of our Distribution capability and range of support services will further underpin the continued growth and success of Evergreen TRG has acquired a 30% stake in Evergreen in return for an upfront payment of $1.4m plus a further deferred amount contingent upon the achievement by Evergreen of business performance hurdles prior to 30 June 2014. All amounts will be funded by TRG out of internally available working capital.

The majority of the TRG stake has been acquired from interests associated with Jo Rylance, Evergreen’s Executive Director and COO. Following the transaction, Ms Rylance will continue at Evergreen in her executive capacity. Mr Hannon remains the majority owner of Evergreen and also holds a significant personal investment in the Evergreen Australian Equities Return Fund alongside clients.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  3. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  4. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  5. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag