Elite Partners Capital's new fund eyes US$200m target to invest in undervalued firms
SINGAPORE-BASED private equity firm Elite Partners Capital is targeting to raise US$200 million for a new global equity fund that targets undervalued companies. The open-end Elite Trafford Global Equity Fund was launched in August and has since raised more than US$20 million, said Elite.
It offers investors exposure to companies that have strong long-term fundamentals, but are being undervalued by the market and depressed by short-term negative factors. The fund will hold positions in these companies with a two to five-year investment horizon.
It primarily targets high net worth investors who are accredited under the Monetary Authority of Singapore's guidelines, and those that "seek long-term capital appreciation and understand the risks involved in investing in such an equity fund", said Elite.
Victor Song, chief executive officer of Elite, said: "The Elite Trafford Global Equity Fund is an opportune addition to Elite's growing assets under management. The fund will provide investors exposure to discounted, but high-value equities which will yield above market returns."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
Barclays Q1 profit falls 12% as mortgage competition, deals drought hit
Deutsche Bank Q1 profit jumps 10% as investment bank outperforms
Latest Singapore 6-month T-bill offering cut-off yield of 3.74% as applications dip
Morgan Stanley Asia private equity unit to reorganise as CEO retires