Regal Partners Ltd, the Australian hedge fund firm born out of the merger of Regal Funds Management and VGI Partners in 2022, is seeking approximately $1bn in new capital for its latest Cayman Islands-based based fund, as part of broader expansion efforts, according to a report by Bloomberg.
The new Regal Partners Private Fund will serve as a feeder into the company’s Australian multi-strategy fund, which has delivered a 19% return since its launch in December. The multi-strategy fund includes investments in private credit, water, power, and resources, as well as its flagship global long-short equity fund, which has outperformed most peers with a 25% return over the past year, according to data from Bloomberg.
The report quotes the firm’s Chief Investment Officer Philip King as saying that the Cayman Islands-based fund is primarily targeting institutional investors and family offices who “can invest in a tax effective way into the Regal multi-strategy.”
Regal, which currently manages nearly AUD17bn ($11.5bn) in assets, up from AUD4.7bn just two years ago, has offices in Sydney, Singapore, and New York, and has evolved from a primarily long-short equities fund to a diversified investment manager across private markets and alternative assets.
According to Brendan O’Connor, Regal’s Chief Executive Officer, the firm is eyeing further expansion, particularly through acquisitions in both public and private markets, which could involve moving into sectors such as real estate, infrastructure, venture capital, and additional credit areas. “We believe there’s significant potential to expand our presence in credit in the coming years,” O’Connor said.
