27 February 2018
27 February 2018

FINANCIAL REVIEW: The fund making 30pc betting on large caps

Melbourne-based stockpicker L1 Capital has kicked off what it hopes could be the firm’s last big fundraising drive; a $600 million listed investment company.

L1 Capital founders and co-chief investment officers Mark Landau and Rafi Lamm launched the cash call this week, together tipping in the first $10 million and locking it up for 10 years, to prove their commitment to the listed fund.

If successful, it would be the biggest initial public offering for an Australian listed investment company, outside of funds run by Magellan Financial Group.

The proposed fund, L1 Long Short Fund Ltd, is to be modelled on the firm’s existing long short fund, which returned 30.5 per cent last year, after fees, and has averaged 36.9 per cent annually since inception in September 2014. … click here to read article.