Picking Private Equity Managers

SpaceX. OpenAI. Anthropic. The companies everyone wants to own but can’t buy on the share market. In this episode, we unpack how private equity works, why the biggest companies are staying private for longer, and how the Pengana Private Equity Trust (ASX:PE1) gives ASX investors exposure to SpaceX and 500+ other private companies.

In this episode:

0:00 SpaceX, IPO rumours & why private markets matter

2:10 The economics of space

6:01 Why companies are staying private longer

10:51 Private equity 101: how it works

14:03 Has private equity outperformed?

18:59 Why PE1 is structured as a listed investment trust

21:35 PE1 performance, buybacks & distributions

24:41 Beyond SpaceX: AI exposure, GROQ & compounders

Stocks & ETFs mentioned: Pengana Private Equity Trust (ASX:PE1), SpaceX (private), OpenAI (private), Anthropic (private), xAI (private), NVIDIA (NASDAQ:NVDA), Amazon (NASDAQ:AMZN), T-Mobile (NASDAQ:TMUS), Spice World (private), GROQ (private)

None of Pengana Private Equity Trust (“PE1”), Pengana Investment Management Limited (ABN 69 063 081 612, AFSL 219 462) (“Responsible Entity”), Grosvenor Capital Management, L.P., nor any of their related entities guarantees the repayment of capital or any particular rate of return from PE1. Past performance is not a reliable indicator of future performance, the value of investments can go up and down. This document has been prepared by the Responsible Entity and does not take into account a reader’s investment objectives, particular needs or financial situation. It is general information only and should not be considered investment advice and should not be relied on as an investment recommendation.

Pengana Investment Management Limited (Pengana) (ABN 69 063 081 612, AFSL 219 462) is the issuer of units in the Pengana Private Equity Trust (ARSN 630 923 643) (the Trust). Before acting on any information contained within this report a person should consider the appropriateness of the information, having regard to their objectives, financial situation and needs. An investment in the Trust is subject to investment risk including a possible delay in repayment and loss of income and principal invested.

———

Want to get involved in the podcast? Record a voice note or send us a message.

And come and join the conversation in the Equity Mates Facebook Discussion Group.

———

Want more Equity Mates? Across books, podcasts, video and email, however you want to learn about investing – [we’ve got you covered.

Keep up with the news moving markets with our daily newsletter and podcast (Apple | Spotify)

We’re particularly excited to share our latest show: Basis Points

Listen to the podcast (Apple | [Spotify)

Watch on YouTube

Read the monthly email

———

Looking for some of our favourite research tools?

• Download our free Basics of ETF handbook
• Or our free 4-step stock checklist
• Find company information on TIKR
• Research reports from Good Research
• Track your portfolio with Sharesight

———

In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. 

———

Equity Mates Investing is a product of Equity Mates Media.

This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697.

Hosted on Acast. See acast.com/privacy for more information.