Hi All
Didn’t take notes at time of call so I may have missed some points:
1) long term investment, 10 years plus and current owners were keen to have small percentage equity partner. Two key owners represent over 50% of capital, providing certainty in management decision making.
2) Keen to explore setting up an Australian Investment arm. PAC looking to assist.
3) $US7+Million ($AUD9.5M at $0.74 AUD/USD) in earnings to PAC is after tax, 10% return. Earnings stream is monthly, therefore no lumpy income.
4) research post meeting: IML contributed approx $6.7M. Significant difference and we have $30M in change.
5) growth in FUM has tripled since 2013, from $1B to $4.2B
6) different earning model in that some of money is earnt through debt interest where they also have an equity position in a private company. Equity positions are well structured in that they have first right to invest when capital is sought by the business.
7) research post meeting: There are some interesting startups in their investment portfolio, check them out here https://www.victoryparkcapital.com/
Best of Luck
Lost
Hi All Didn’t take notes at time of call so I may have missed...
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Mkt cap ! $573.1M | |||
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