The structure opens the door for supers, and potentially millions of their members, to gain access to new investment opportunities
Corrs Chambers Westgarth has helped a UK-headquartered IP investor structure a novel co-investment vehicle with a major Australian superannuation fund.
The independent firm acted for IP Group Plc on the formation of its joint investment vehicle with Hostplus. Called the IP Group Hostplus Innovation Fund, it is IP Group’s first Australian institutional mandate focused on the life-sciences and technology sectors.
The fund has made its first investment, which is worth $27.5m, in Oxford Nanopore Technologies, which makes MinION, the world’s only portable and real-time DNA/RNA sequencer.
“The innovative co-investment structure is an efficient way for superannuation funds (and potentially millions of underlying members) to gain access to growth opportunities in the healthcare, technology, cleantech and biotech sectors,” said Corrs partner Fadi Khoury.
“It is exciting to see sophisticated investor capital partnering with astute global management talent to fund life changing technology,” he said.