NATIONAL ADVISER ROADSHOW (ADVISERS-ONLY)
Breakfast Session
Pengana Capital Boardroom
8:15AM - 9:30AM
Lunch Session
Pengana Capital Boardroom
12:15PM - 1:30PM
Breakfast Session
Pengana Capital Boardroom
8:15AM - 9:30AM
Lunch Session
Pengana Capital Boardroom
12:15PM - 1:30PM
Lunch Session
QT Melbourne
12:15PM - 1:30PM
Lunch Session
QT Melbourne
12:15PM - 1:30PM
Breakfast Session
Sofitel Melbourne
8:15AM - 9:30AM
Lunch Session
Hilton Adelaide
12:15PM - 1:30PM
Breakfast Session
Hilton Adelaide
8:15AM - 9:30AM
Public Markets are
JUST the tip of the iceberg
The Pengana Private Equity Trust provides:
Access
Direct exposure to oversubscribed and difficult-to-access middle market managers globally.
Income
A target cash distribution yield equal to 4% p.a. from 1 July 2020 payable semi-annually.4
Simplicity
A single point of entry to a well-diversified portfolio of private equity investments.
Private Equity has historically outperformed listed equity2
Across time periods
Across regions
Through different economic conditions
With less volatility
THE OFFER
2:1 ENTITLEMENT
Offer
Open to existing investors who hold units as at the Entitlement Record Date
Each existing investor can subscribe for up to 2 new units for every 1 unit held as at the Entitlement Record Date
Shortfall
Offer
Open to existing investors who have subscribed their full entitlement under the Entitlement Offer
Any new units not applied for under the Entitlement Offer will form part of the Shortfall Offer
Discretionary
Offer
Open to existing investors plus other select investors
Any new units not applied for under the Shortfall Offer plus a placement capacity (~10%) will form part of the Discretionary Offer
Latest Unit Price
$
ASX price delayed by 20 min.
NAV Per unit
$1.3793
As at 31 January 2020
Subscription price3
$1.37
Availability
ASX: PE1
Why there's a place for private equity in your portfolio
Introducing the Pengana Private Equity Trust
EXISTING INVESTORS
Loyalty Benefit Program
- Available to investors who hold existing units as at the Discretionary Offer Closing Date
- Regardless of whether they participate in the Secondary Offer
- Loyalty Units to be issued will be 1% of units held and retained per $100m raised under the Secondary Offer
- Issued at the Subscription Price, and the Subscription Price will be paid for in full by Pengana Capital Group (ASX: PCG)
For full details on the Loyalty Benefit Program please refer to Section 5.10 of the PDS >
DATES AND RESOURCES
| IMPORTANT DATES | |
|---|---|
| Announcement of the Offer and lodgement of PDS with ASIC | 11 February 2020 |
| Units trade on an ‘ex’ basis in respect of the Entitlement Offer | 19 February 2020 |
| Entitlement Record Date for Entitlement Offer (7:00pm Sydney time) | 20 February 2020 |
| Offer Opening Date | 24 February 2020 |
| Entitlement Offer and Shortfall Offer Closing Date (5:00pm Sydney time) | 19 March 2020 |
| New Units under Entitlement Offer quoted on a deferred settlement basis | 20 March 2020 |
| Discretionary Offer Closing Date (4:00pm Sydney time) | 23 March 2020 |
| Final date for an investor to potentially be a Loyalty Unitholder | 23 March 20205 |
| Expected date when Units trade on an ‘ex’ basis in respect of the Special Distribution | 23 March 2020 |
| Expected record date for the Special Distribution | 24 March 2020 |
| New Units under Shortfall Offer quoted on a deferred settlement basis | 24 March 2020 |
| Announcement of results of the Offer (10:00am Sydney time) | 25 March 2020 |
| Expected Settlement Date | 30 March 2020 |
| Expected date of the allotment of new Units | 31 March 2020 |
| Normal trading of new Units issued under the Offer expected to commence on the ASX | 31 March 2020 |
| Expected date for dispatch of holding statements | 1 April 2020 |
| Expected Loyalty Unit Determination Date | 23 July 2020 |
| Expected Loyalty Unit Issue Date | As soon as practicable following the Loyalty Unit Determination Date |
| KEY DETAILS | |
|---|---|
| Entitlement Offer ratio | 2 new Units for every 1 existing Unit |
| Subscription Price per Unit3 | $1.37 |
| Maximum number of Units available under the Offer | 345,385,940 |
| Maximum gross proceeds from the Offer | $473.2 million |
| Responsible Entity Fee and Management Fee7 | 1.25% p.a. |
| Performance Fee7 | 20% of outperformance in excess of an 8% p.a. hurdle return and subject to a high water mark |
| Underlying Manager Fees7 | Management and incentive fees are paid at the underlying fund level |
