Ex-Antipodes fundie surfaces at PAC Capital

“Sunny has a expertise for locating secure, long-term worth, he brings a heightened degree of sophistication to the funding group and is the right complement for PAC at this stage.”Bangia formally left Antipodes at the tip of May after eight years, as first reported by Street Talk, and bought his fairness stake. His resume consists of stints at Platinum Asset Management, Westpac and Goldman Sachs.PAC Capital was based by Larcombe in 2018 to ship buyers entry to the fast-growing international esports and gaming tech thematic through a wholesale esports enterprise fund.In 2022, it hit the retail funds market, launching two international fairness funds – an esports lengthy/quick fund and a worldwide lengthy solely, which Bangia will now oversee, and three multi asset-funds – balanced, progress and alternatives.The agency sucked up Clearwater Portfolio’s $250 million in property in October in a deal that ballooned its funds underneath administration.Key investments embody PickleBet, an esports betting firm primarily based in Sydney, gaming studios similar to Activision Blizzard, web corporations like NetEase and {hardware} suppliers like Turtle Beach. PAC Capital additionally has a ten per cent holding in Talon, a Hong Kong-based esports group.For the PAC international lengthy/quick fairness fund, efficiency since inception virtually mirrors the MSCI World Index, returning 6.38 per cent versus 6.72 per cent. The fund has considerably outperformed the index over the previous six months however has fallen simply shy over one yr, in line with its May reality sheet.Bangia’s PAC portfolio is predicted to look markedly totally different to Antipodes, extremely concentrated in simply 20-30 international mid to large-cap names (against 70), with a concentrate on high quality and worth names. Top picks embody e-commerce big Amazon, credit-score firm FICO, Italian luxurious vogue home Moncler and Indian financial institution HDFC.With its concentrate on retail buyers, Street Talk wouldn’t be shocked to see the agency launch energetic exchange-traded funds alongside its unlisted funds because it seeks to develop funds underneath administration and tackle the bigger international fairness retailers.


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