Sarah Thompson, Kanika Sood and Emma Rapaport
Perennial Partners is set to take over management of Australian Unity’s $100 million Future of Healthcare Fund in a deal which will see two portfolio managers transfer into the investment firm, Street Talk understands.
Australian Unity’s Victor Windeyer and Sam Walker will join Perennial and continue to manage the Healthcare portfolio. Perennial Investment Management will also become the fund’s trustee.
Australian Unity set up the fund in 2020 to invest in emerging and innovative healthcare businesses, originally targeting $200 million. Its portfolio includes Australian and global listed and unlisted companies in the pharmaceutical, life sciences, biotechnology and medical device sectors.
The transfer should give the fund greater access to private company deal flow via Perennial’s private assets team. The firm is busy raising for its sixth private investments fund, set to launch an evergreen version of its public-to-private fund dubbed PPP+ which will invest in private growth and pre-IPO companies.
PPP+ will open for wholesale investors on April 29 and close at the end of June. The firm declined to put a number on how much it’s looking to raise but prior efforts have seen it raise between $60 million and $200 million.
Read the original article on the AFR.
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