BARRACK STREET RAISES $16M

Written on the 7 August 2014 by Nick Nichols

BARRACK STREET RAISES $16M GOLD Coast fund manager Manny Pohl has raised $16 million for his latest venture which is poised to list on the Australian Securities exchange next week.

Pohl’s Barrack Street Investments Ltd (ASX: BST) will be based in Sydney and is expected to list on August 14.

Barrack Street will be managed by ECP Asset Management (ECPAM), which is headed by Pohl who is targeting small and mid-cap ASX-listed companies with the new venture.

Pohl says the capital raising was aimed at small private super funds with fewer than five members.

“It’s widely acknowledged that SMSFs are heavily weighted to ASX top 50 companies and cash,” he says.

“We are delighted that our message of diversification beyond the top 50 ASX stocks resonated with the SMSF sector and others.”

Barrack Street shares have been issued at $1 each, attached with a two-year option exercisable at $1 each.

Barrack Street, which is chaired by Gold Coast businessman Murray d’Almeida, will be headquartered in Sydney with the team there to include Pohl’s sons Jared and Jason, and co-founder Andrew Dale.

Pohl says Barrack Street Investments will sit parallel with his other listed vehicle, the Gold Coast-based Flagship Investments Ltd (ASX: FSI) which Pohl operates from his Bundall headquarters.

Pohl has extracted strong returns from the small and mid-cap sector of the market over the past 30 years.

His management company, ECPAM, has outperformed the market by almost five times since its inception in July last year to the end of the March quarter this year.

ECPAM has returned 24.8 per cent compared with a 5.4 per cent return from the ASX Small Ordinaries Accumulation Index.

ECPAM manages funds on behalf of wholesale investors, targeting quality listed companies.



Author: Nick Nichols

Latest News

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CRITICS CALL FOR MORE INDEPENDENT DIRECTORS ON BLUE SKY BOARD

BLUE Sky Alternative Investments (ASX: BLA) has defended its governance and valuation processes in response to severa...

BEGA PAYS $460 MILLION FOR VEGEMITE TO BRING THE ICONIC BRAND BACK UNDER AUSTRALIAN OWNERSHIP

VEGEMITE is back under Australian ownership after Bega Cheese (ASX: BGA) agreed to buy Mondelez International's A...

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the ...

Related News

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter