Regal Partners Secures $420m+ Institutional Mandate
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.