L1 Long Short Fund Limited IPO
L1 Long Short Fund Limited IPO

Patersons has been appointed Co-Manager to the upcoming L1 Long Short Fund Limited IPO.

The Offer

The L1 Long Short Fund Limited (“Company”) is seeking to raise up to $500,000,000.00 under the Offer at $2.00 per share (before Oversubscriptions).  

The Company has been established to invest in a portfolio of predominantly Australian and New Zealand Securities, with up to 30% of the gross exposure allowed in Global Securities. The Company’s portfolio will be managed by L1 Capital Pty Limited, which was founded in 2007 by Mr Raphael Lamm and Mr Mark Landau and has approximately $3 billion of funds under management (as at 31 December 2017). 

In line with what the Company considers to be best practice, L1 Capital has committed to forego all management fees until such time as the Company has recouped issue costs, and will also cover the majority of operating costs of the Company where appropriate. The funds principals have advised that they will be investing $10M personally into the fund, escrowed for 10 years.

Key Features

  • Fully paid ordinary shares at $2.00 per share 
  • Trading proposed to commence on ASX at 24th April 2018
  • Proposed ASX code ‘LSF’ 
  • Min bid of $5,000.00 (2,500 shares)
  • Settlement timetable TBC

Is this investment opportunity right for me?

More information on this IPO can be found in the prospectus. If you’re interested in participating in this IPO or would like to discuss how this opportunity fits into your broader Wealth Management strategy, please contact a Patersons Wealth Adviser on 1300 582 256.