Sat, May 30, 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. Evergreenís 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 ďEvergreen has generated enviable returns for investors across the volatile equity market conditions that weíve seen over the past few years. The enthusiasm, passion and focus on client outcomes of the Evergreen team underpin their success to date.Ē

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, Evergreenís 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: New TMT hedge fund adopts the long-term approach[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Adam Parker founded Center Lake Capital LLC in New York in November 2014. Before that, he was portfolio manager at Point State Capital (the successor fund to Dr

  2. Investing - Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds, Hedge funds buy Actavis, Valeant. ETFs join the party, The most loved biotechs of big hedge funds, Stocks to buy ... according to hedge funds, Atlantic City bond offering attracts hedge funds as buyers, Okumus Fund Management discloses huge new Ascent Capital Group stake[more]

    Hedge funds buy swathes of foreclosed subprimes, force up rents, float rent-bonds From Boingboing.com: When a giant hedge fund is bidding on all the foreclosed houses in a poor neighborhood, living humans don't stand a chance -- but that's OK, because rapacious investors make great landl

  3. Institutions - Institutional investors turn to real estate, planes, Assets at Bostonís five biggest family nonprofits rise to $3.5bn[more]

    Institutional investors turn to real estate, planes From Joins.com: The National Pension Service and domestic emerging market specialists who did not know where to invest in a low interest rate environment are turning to other investments like the blue-chip real estate market abroad.

  4. Regulatory - Hedge funds face tax as Iceland poised to end capital controls, Comment: Why alternatives need more transparency, not enforcement[more]

    Hedge funds face tax as Iceland poised to end capital controls From Bloomberg.com: Hedge funds and other investors who bought claims against Icelandís failed banks face a tax that targets the lendersí estates as the government prepares to unveil its plan for exiting capital controls in t

  5. Investing - Nelson Peltzís Trian Fund Management reduces position in Legg Mason, Biotech investors up big amid bubble talk, Hedge funds increase exposure in healthcare[more]

    Nelson Peltzís Trian Fund Management reduces position in Legg Mason From Octafinance.com: Trian Fund Management has filled a SC 13D/A form regarding Legg Mason, Inc. Per Nelson Peltzís Trian Fund Managementís filing, the filler reported decreased stake in the company by -11.05% to 11,03

 

banner