Pengana Capital Group (ASX: PCG) has bought a strategic minority stake in boutique credit fund manager, Global Credit Investments.
They provide high net worth investors with diverse, structurally protected and high yielding short-term credit investments.
They deployed in excess of $100 million across a range of different credit assets, sourced from both fintech and traditional non-bank lenders in Australia and the U.S
The strategic stake in GCI will not have a material impact on Pengana financially or operationally; nor will it impact existing investments held by investors in Pengana funds.
Shares in Pengana Capital Group (ASX:PCG) are flat at $3.60.