Moelis hires Australian TV host David Koch to chair global investment fund

SYDNEY Sun Aug 10, 2014 11:38pm EDT

SYDNEY Aug 11 (Reuters) - Fund manager Moelis & Co plans to raise up to A$300 million ($278.46 million) for a new global investment vehicle to be listed in Australia, and is reeling in a popular local television presenter as its chairman to attract support.

In a prospectus lodged with Australian authorities on Monday, Moelis said its new Global Wealth Partners Fund Ltd (GWS) will let investors skip administrative delays and minimum investment requirements to buy into four U.S. alternative investment funds.

The company has hired television host and finance commentator David Koch to chair GWP. Koch will donate his A$125,000 a year salary to charity, Moelis said.

Australia is headed for its biggest year of new listings in a quarter century with A$4.1 billion raised in the first six months of 2014, five times the amount raised in the previous first half, as companies hope to capitalise on a share market trading near record highs.

But while domestic equities remain high, Australians have relatively low exposure to global stocks and the benefits of diversification, says Moelis.

"Generally, portfolio diversification not only benefits investment returns but may also decrease risk," Koch wrote in the prospectus.

Moelis, which said it already has commitments from unidentified investors to buy A$100 million of GWP shares, said it will close its retail share offer on Sep. 15 and list on Sep. 26.

(1 US dollar = 1.0774 Australian dollar) (Reporting by Byron Kaye; Editing by Kim Coghill)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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