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

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter