BLUE SKY OUTSHINES ASSETS UNDER MANAGEMENT TARGET

Written on the 2 May 2014 by Karen Rickert

BLUE SKY OUTSHINES ASSETS UNDER MANAGEMENT TARGET BLUE Sky Alternative Investments Limited (ASX:BLA) has exceeded its target of $500 million in assets under management by June 30, with time to spare.

The fund manager’s assets under management (AUM) is now north of $550 million, with its four divisions of private equity, private real estate, hedge funds and real assets all experiencing growth.

Founder and managing director Mark Sowerby (pictured) says there is a lot of interest and increased allocations into alternatives.

“Rainmaker Group, a big data collector in the funds management space, just put out a report that alternatives have increased over the last 15 years in Australia from five per cent to 14 – and the forecast will be at 20 in six or seven years.

“I think those increased allocations are flowing through to the things we do and we’re making people money and that’s our job,” he says.

The achievement follows the company’s acquisition of all shares in Investment Science Pty Ltd of $70 million in AUM on April 30.

“I think it’s fair to say we were going to get there early anyway. Where Investment Science sits well is that it really gives us a great range of products in the hedge fund space that will help us do a better job of managing alternative asset portfolios going forward.

“They’re a talented team, they’ve got a great track record and I think they’re going to be an important part of our business in the long-term.”

As part of its aggressive growth strategy, Blue Sky has opened an office in Melbourne and announced several key appointments.

 

Laz Siapantas


New account manager Laz Siapantas will oversee corporate accounts, advisory groups and family offices for alternative assets in Victoria, as well as South Australia.

“It’s always great when you get someone on ground that is clearly highly regarded and is trusted, because you get engagement immediately,” says Sowerby.

“There’s no doubt that increasing our AUM is a result of the very strong networks, trust and reputation of Laz in Melbourne.”

Sowerby plans to launch a venture capital fund in the next few months, to attract further deal flow.

“Venture is perceived to be this binary outcome of you either make a fortune or lose your money. The reality is venture capital is about early stage businesses and early stage businesses occur in every sector of the economy.

“We think venture capital will be a very interesting place to play for investors and the tax free structure things we can do also make it more compelling,” he says.

Read more about Blue Sky's AUM target here.

 

NEW FACE FOR SCREEN QLD

TRACEY Vieira has recently stepped onto the stage as the new Screen Queensland CEO,Despite having a wealth of experience in film, Vieira is all about the business over the limelight,...Read More

BONDOR BUILDS ON GROWTH 

THERMAL building solutions company Bondor is pushing its InsulLiving system, to drive growth in the residential sector. Read More

NORTH LAKES WELCOMES NATIONAL DEVELOPER

A national property group has secured three strategic retail sites at North Lakes totalling 64,957sqm...Read More

POLICE-APPROVED CAR PHONE TECH A SUCCESS 

CARS and mobile phones – usually a recipe for disaster – but not for this Brisbane duo ...Read More

 

QUEENSLAND BUSINESS NEWS

FULL STEAM AHEAD FOR CREMA ESPRESSO 

THE steamy Gold Coast is emerging as Australia’s new coffee capital with Crema Espresso the latest to make an aggressive push into the national market....Read More

QUEENSLAND TOURISM OUTDOING OTHER STATES

QUEENSLAND’s international appeal is increasing, particularly to the Asian market, positioning the state’s tourism sector as the second best performing in Australia.. Read More


Author: Karen Rickert Connect via: Twitter LinkedIn

Latest News

THE 2017 MELBOURNE TOP 50 COMPANIES REVEALED: NUMBERS 40 TO 31

Our countdown to the 2017 Top 50 Melbourne companies continues with the next 10 on the list from 40 to 31, which f...

CANNABIS COMPANY SECURES PERMITS FOR NEW PLANTS TO BEGIN CULTIVATION

MEDICAL Cannabis company Cann Group Limited (ASX: CAN) will receive its first plant material and start cultivation of...

CHARTER HALL SNAPS UP SALAMANDER BAY CENTRE FOR $174M

RETAIL investment trust Charter Hall (ASX: CQR) has purchased the regional Salamander Bay Centre in New South Wales f...

$12 MILLION OFFICE SALE UNDERPINS MILTON REVIVAL

ONE of Milton's well known office buildings has sold for $12.88 million, supporting the resurgence of the popular...

Related News

AFTERPAY GOES TRANS-TASMAN WITH TRADE ME DEAL IN NEW ZEALAND

AFTERPAY Holdings Ltd (ASX: AFY) has entered into an agreement with New Zealand trading site Trade Me Group Ltd (A...

STARTUP SUCCESS BOILS DOWN TO PERSONALITY, SAYS EXPERT

THOSE who own startups will know that there are many essential qualities of a good entrepreneur; their tenacity, fina...

SLATER AND GORDON TAKES SPOTLESS TO COURT

SPOTLESS Group (ASX: SPO) has been hit by a class action launched by Slater and Gordon (ASX: SGH) in the Federal C...

TOPSHOP GOES INTO ADMINISTRATION AMID VOLATILE RETAIL MARKET

TOPSHOP has become the latest in a string of retailers blasted by the volatile retail market, as the iconic fashio...

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