Regal Partners Secures $420m+ Institutional Mandate
19 Sep 2022
Regal Partners is pleased to advise that Regal Funds Management has secured an institutional mandate in the Regal Australian Long Short Equity Strategy of more than $420m, with an investment date of Friday 16 September 2022.
- The mandate represents a significant investment from a large domestic superannuation fund, following an extensive investment and operational due diligence process;
- Fees for the mandate are similar to the existing wholesale Regal Australian Long Short Equity Fund, however the mandate has been structured with a higher performance fee component and lower management fee component, amongst other bilaterally agreed terms;
- As part of the recently announced Accelerated Non-Renounceable Entitlement Offer, Regal Partners provided a FUM update as at 31 August 2022 of $5.0 billion1 (up from $4.7 billion as at 30 June 20222). This mandate was not included in the FUM update;
- RPL is due to release its next quarterly FUM update in mid-October, which will incorporate the increase in Group FUM as a result of this mandate win.
1 Unaudited Management estimate as at 31 August 2022. Funds under management (FUM) for the group (including 100% of Kilter Rural, Attunga Capital and Gresham Royalties Management) includes non-fee earning funds.
2 Post distributions, net of reinvestments.