Marta actually believes that the private and wealthy investors who invest via Torchlight want her to know how the fund works and invests in?
She should try asking the Blackrock hedge fund how they operate?
In this mornings Press Marta shows she is learning.In article headed Torchlight Fund " loan to Hubbard bolsters alliance" she states"SCF would grant Torchlight Fund a prior ranking charge over its assets.That means the notes rank ahead of debenture holders'.
"Torchlight is one of the funds managed by PGC's new assat management business,Perpetual Asset Management","Torchlight is a private equity fund which has raised funds from Australian and NZinvestors."
PGC is seeding some of the funds.The seeding amounts were very small.
But where to place the bets? What does PGC end up with if Marac goes to CBS - shares in CBS? Seems to me the value is mostly in the future opportunity for the merged entity, so would want to be positioned for that.
Seems to me as though PGC is positioning to take out SCF and merg all of the parties into a bigger enity ie Bank PGC !
If they're serious about forming a bank that people will actually put their hard-earned into then I would think they would stay well clear of SCF. Their loan book is going to have to be squeaky clean if they want to attract deposits in this environment.
Is there really room for another retail bank in NZ?
Looking at how long to get going and how much it has cost to establish kiwibank, you have to wonder about this. The cynic would have to look at alterior motives and loan book redistribution would have to be one.
Is there really room for another retail bank in NZ?
Looking at how long to get going and how much it has cost to establish kiwibank, you have to wonder about this. The cynic would have to look at alterior motives and loan book redistribution would have to be one.
You are on to it and I am one of the cynics.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
Is there really room for another retail bank in NZ?
Looking at how long to get going and how much it has cost to establish kiwibank, you have to wonder about this. The cynic would have to look at alterior motives and loan book redistribution would have to be one.
YES Plenty of room,we all hate the Aussie banks.The three already have the customer base.Best entry will be PGC as they will be the drivers of the deal.
Traders wishing to sell at 49c has halfed in value today. (on Direct Broking)
Will PGC offer shares for the new entity to their shareholders at a special deal..
How will the initial market placing work?
Originally Posted by Logen Ninefingers
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