There is a good reason why Australia’s sovereign wealth fund, the Future Fund, maintains a 16% allocation to private equity. Returns, returns, returns.
Private equity, and the lucrative returns it offers, has traditionally been the restricted domain of institutional investors and off limits to retail investors.
Ellerston Capital's JAADE Private Assets Fund bucks that trend by offering retail investors exposure to unlisted Australian growth companies. Like private equity, JAADE’s managers act as a partner with the companies it invests in by holding a space on their respective boards.
It’s a model that clearly works.
As of June this year, the retail fund has returned 14.48% pa over three years and almost 18% per annum since inception.
In today’s episode, Livewire's David Thornton sits down with Jayne Shaw, Investment Director at Ellerston Capital and analyst for the JAADE fund. Jayne didn’t take the typical road into funds management. Initially trained as a nurse, she went on to take a number of roles in leadership positions in healthcare organisations. This appropriately explains why Jayne looks after the healthcare allocation within the JAADE fund.
She also explains why the “carpark indicator” is a great way to know when the deals are on in private equity.
Topics include:
0:00 - START
2:30 - An uncommon journey
5:03 - Private equity has changed
10:17 - Dry powder
12:16 - Counting cars
14:00 - JAADE
16:00 - It all comes down to the people
19:58 - Hard conversations
21:30 - Earnings runway
22:25 - Mable
25:40 - Prospection
32:39 - Why healthcare companies are good investments
37:07 - Don't put too much weight in the past
42:00 - A company for the bottom drawer
Skamvougeras: Forgotten opportunities
Watling: Australian recession is still my base case
Steve Johnson: The search for extreme dislocations
Aitken: Trade wars present ‘tremendous opportunity’
Ben Griffiths: Markets are at an inflection point
Finding the next Macquarie Bank
Dr Philipp Hofflin: Beware of the widest moats
Tim Toohey's macro masterclass
A century of dividends
Platinum and Magellan: Inside the minds of Australia’s most successful global investors
The hottest investment theme on Earth
Investing in Global Disruption with Jeff Cole
Padley: The problem with buy and hold
Cooper reviews the Cooper Review
Platinum: The opportunity of a generation
Chris Stott: One last call
Fresh ideas from Future Generation
The value in being contrarian
Matthew Kidman: Uncut
Two small cap ideas with years of growth ahead
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