Barrenjoey desk liquidates 5% stake in Pacific Current at premium price

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There will be eyes on the share register of listed asset manager Pacific Current Group in the coming days, to see who has been aggressively bidding for shares.

Late Tuesday, Barrenjoey’s desk crossed 2.6 million shares of Pacific Current at $8 a share, which was a 3 percent premium to the stock’s close on Monday and 8 percent higher. than last week’s close.

street talk. Louis Douvis

Fund managers see this as another institutional investor, rather than strategic positioning prior to an acquisition. While the shares were trading at a premium, they weren’t screaming “huge suitor desperate to buy the company.”

We shouldn’t have to wait long to find out. The stake represented 5.1 percent of Pacific Current’s outstanding shares, meaning there will be an important notice to shareholders within three days.

As for the seller, only River Capital, Regal Funds, Perpetual Ltd, Paradice IM and Michael Fitzpatrick held substantial holdings as of Sept. 16, according to Pacific Current’s newly printed annual report.

Since then, Paradice has fallen below the 5 percent mark.

Pacific Current owns a stake in boutique asset managers based in Australia and abroad, including a 4 per cent stake in ASX-listed GQG Partners.

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