Original investment in Proterra’s primary US based business was $30M (believe this is in USD and was paid in two parts).
FUM in Asian business likely to be about $USD500M, not much in the scheme of things.
PAC’s economic interest for Proterra is Management fees only, no performance fees.
Sale to Challenger’s Fidante Group makes sense, Fidante Group own distribution rights for Proterra Funds in EU zone and know the business well.
This is a very good deal and provides capital to pay investors more in higher dividends or to invest in another business to generate more revenue.
Best of Luck
Lost
Ann: Agreement to sell Proterra Investment Partners Asia, page-2
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