Sun, Feb 1, 2015
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. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would