Evergreen ‘commends’ alternative income generating asset manager

Specialist alternative investment research firm Evergreen Ratings has assigned a “Commended” rating to the iPartners Core Income Fund, saying it fulfils the requirements of wholesale investors wanting access to institutional grade alternative assets with an innovative offering.

The iPartners Core Income Fund was launched in May 2021. Targeting a return of 6 to 8% a year (after fees), the Fund invests in a portfolio of iPartners co-investments, private credit, asset-backed securities, property finance, cash and a selection of third-party alternative funds and assets.

Evergreen Founder and CEO Angela Ashton says iPartners’ approach is innovative and “makes for a powerful proposition for its target market.”

Ashton says iPartners is nimble and well resourced, and offers a point of difference because of its specialisation in bespoke financial solutions.

“It meets a pressing need for self-driven investors to generate income, when prevailing yields are low. The combination of these traits is attractive, providing a re-bundled basket of risks that offers access to the yields previously only available to institutional lenders,” Ashton says.

Key features of the fund include diversification and liquidity. To reduce concentration risk maximum individual asset weightings are 2.5% to 5% of the total portfolio. Monthly redemptions are offered, subject to available liquidity.

The iPartners approach involves all stakeholders having “skin in the game” to align the interest of staff, clients and investors. Evergreen points out that this can involve management in conflicts of interest but it commended iPartners for the quality of its disclosure.

Some of iPartners’ transactions include three capital raisings for Harvest Hotels, which is building a portfolio of regional hotels, a loan facility for small business lender OnDeck, and a convertible note raising for labour hire company WorkPac.

Established in 2017, the iPartners operation encompasses commercial lending, investment banking (equity and debt capital raising for Australian businesses), funds management and a wholesale investment platform that provides access to third-party alternative assets.

Co-founders Travis Miller and Ron Nankivell both had long careers in financial markets before starting iPartners, including senior roles at leading commercial and investment banks.

The Fund has grown steadily since inception and forms part of the $130+ m FUM for iPartners Funds Management (as at January 2022).

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Source:  https://www.adviservoice.com.au/2022/02/evergreen-commends-alternative-income-generating-asset-manager/