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The Fifth Estate Emerging Fund has wrapped up a fundraising round. Â
Louise Kennerley
Street Talk understands the pairâs Fifth Estate Emerging Fund wrapped up a fundraising round this week, locking in around $48 million from high net worths, family offices and the like.
It is already holding seven pre-IPO investments straight out the gate, including healthcare technology outfit Lumos Diagnostics. This column revealed earlier this week that Lumos had called in Bell Potter and Wilsons for its float, which is expected to see it raise about $60 million and ramp up in the next fortnight.
The investment strategy for the fund will be overseen by Centennial and Bluelake, as well as ex-Regal Funds Management small companies portfolio manager Dane Roberts.
Morgan Stanley equity sales veteran heads to buyside
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The invesment team behind Centennial Asset Management/BlueLake Partnersâ freshly launched pre-IPO fund has got one more member.
Morgan Stanleyâs Michael Carmody is on the move.Â
Mayu Kanamori
Carmody has been with Morgan Stanley for the past decade, and prior to that spent almost ten years at Bank of America. It is understood he will join Centennial as an executive director for investments and business development.
His hire takes Centennialâs investment team to three, and Carmody will work closely with founders Matthew Kidman and Gary Joffe.
Centennial has two core funds, its Level 18 long/short equity fund â focused on small caps â and the Centennial Conviction Fund, which invests in a smaller concentration of listed small cap companies.
Top fund managers reveal 3 top ASX shares to buy for 2021
Tristan Harrison | January 14, 2021 9:33am |
More on: Image source: Getty Images
There was a huge amount of disruption in 2020 due to the COVID-19 pandemic.
These businesses have been identified by fundies as among the best opportunities for 2021:
Downer is the choice of fund manager Matthew Kidman from Centennial Asset Management.
The ASX share boasts that it has a history dating back over 150 years. It designs, builds and sustains assets, infrastructure and facilities and it’s the leading provider of integrated services in Australia and New Zealand.
Downer is currently in the process of restructuring its business and it’s selling assets. A recent sale was a mining business. Mr Kidman said that it’s selling its lumpy, heavy capital intensive components, and going into a much more capital-light service-based business with a lot of long-term government contracts.
Buy, hold, sell: Fund managers No.1 stock picks for 2021
Jan 8, 2021 – 4.04pm
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Matthew Kidman: Here we are, it s the holy grail. Who is going to tip the best stock for 2021? Everyone wants to be standing on the podium, and everyone wants to be a gold medal winner. You re going to hear it first here.
James Marlay: Small caps have been the right place to be in Livewire s fundies tips for the past few years. What s your number one pick for 2021 and why do you like it?
Olivia Salmon, Lennox Capital
Corporate Travel Management – it was our number one pick for the re-opening trade when we were getting bullish again on equities. I think that the market s fears that Zoom calls or phone calls will be the way of the future and no one will travel anymore is overblown.