Pacific Current Group Ltd (ASX:PAC)
A$ 10.72 -0.12 (-1.11%) Market Cap: 559.56 Mil Enterprise Value: 303.03 Mil PE Ratio: 5.06 PB Ratio: 0.93 GF Score: 43/100

Pacific Current Group Ltd Invests in Banner Oak Capital Partners - Corporate Call Transcript

Jan 04, 2022 / 12:00AM GMT
Release Date Price: A$7.45 (+1.92%)
Operator

Good day, and welcome to the investment in Banner Oak Capital conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Paul Greenwood. Please go ahead, sir.

Paul Richard Greenwood
Pacific Current Group Limited - MD, CEO, Global CIO & Executive Director

Thank you very much, and thank you all for joining us on the call today sort of on short notice. I trust everyone had a great New Year's, and I appreciate the discussion of our new investment today is interrupting vacation time for many, so I apologize for that.

But given our announcement this morning, we want to promptly answer any questions that people may have. Earlier today, PAC announced that it's making a USD 35 million investment in Banner Oak Capital, a private real estate firm based in Dallas, Texas. In exchange for our investment, we will receive a 35% equity stake in the firm.

And before I elaborate more on the specifics of the investment, I'll provide a little bit of an overview of Banner Oak as they have a somewhat unique

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