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PACIFIC CURRENT GROUP LIMITED — Capital/Financing Update 2024
Dec 22, 2024
65526_rns_2024-12-22_4e7ffea0-eae7-43c4-b643-5306bc262935.pdf
Capital/Financing Update
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Tacoma // Melbourne
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ASX ANNOUNCEMENT
23 December 2024
Redemption of Interest in Banner Oak Capital Partners
Pacific Current Group Limited (“PAC” or the “Company”) (ASX: PAC), a global multi-boutique asset management firm, announces that it has completed an agreement to fully redeem its interests in Banner Oak Capital Partners (“Banner Oak”). PAC originally invested US$35m in Banner Oak in January 2022. The redemption of US$19.1m, when coupled with US$15.9m of historical distributions from Banner Oak, represents a full return of Pacific Current’s invested capital, on a pre-tax basis. As at 30 June 24, PAC had a recorded book value of A$23m in Banner Oak.
-ENDS-
AUTHORISED FOR LODGEMENT BY:
The Board of Pacific Current Group Limited.
CONTACT
For Investor & Media enquiries:
Michael Clarke - Executive Director & Acting CEO
E: [email protected] T: (+61) 3 8375 9611
ABOUT PACIFIC CURRENT GROUP // www.paccurrent.com
Pacific Current Group is a multi-boutique asset management firm dedicated to providing exceptional value to shareholders, investors and partners. We apply our strategic resources, including permanent capital and operational expertise to help our partners excel. Following the redemption in Banner Oak, Pacific Current Group has investments in 8 boutique asset managers globally. For more information, please visit: www.paccurrent.com
Pacific Current Group (ABN 39 006 708 792) Suite 3, Level 3, 257 Collins Street Melbourne VIC 3000 Australia www.paccurrent.com Tel: +61 3 8375 9611