SYDNEY Aug 11 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
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
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.
(1 US dollar = 1.0774 Australian dollar)
(Reporting by Byron Kaye; Editing by Kim Coghill)