IMHO Pensador is a bucket ... I mean that in a nice way.
MS and his mates have probably been going around to private equity firms and merchant banks and high wealth individuals etc. trying to get them to invest in a energy / resources type fund in Angola.
These people have likely read a specially prepared prospectus possibly stating that their investment money will go towards oil and resource projects and they may have seen forecast revenues. Additionally they may have been promised, as part of the prospectus, regular interest returns on their investment.
Those that choose to place funds in the investment would likely get shares or units in Pensador to verify their investment : just like shares or units in superannuation or Macquarie infrastructure type funds. Shame we have not been invited to contribute but probably need a few million $ as a minimum.
When / if they collect enough money they will close the fund to further contributions .. or at least let the ball start rolling.
If they don't collect sufficient money then I expect that those that have comitted funds into trust will have them returned ... including CVI's $12 Million ... all in my humble opinion.
What they have probably been waiting on is some possible contributors to formally commit their contribution into the pot.
This money, pooled into a fund called Pensador, has to be managed, spent and reported upon by directors / trustees under strict corporate governance procedures, probably detailed in the prospectus.
This may be a simplistic scenario because it does open up a range of new questions but I have come to guess that's how it will be structured.
CVI Price at posting:
8.9¢ Sentiment: None Disclosure: Held
