Starlight Capital launches new real assets trust
TORONTO, Oct. 15, 2018 /CNW/ - Starlight Investments Capital LP ("Starlight Capital") announced today that it has filed a preliminary prospectus for the Starlight Hybrid Global Real Assets Trust (the "Trust"). The filing has been made with the securities regulators of all the Canadian provinces and territories for an initial public offering of Series A Units, Series C Units and/or Series F Units of the Trust (collectively, the "Units") at an offering price of $10.00 per Unit (the "Offering").
The Trust's investment objective is to provide unitholders with stable monthly cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors.
To achieve its objectives, the Trust will invest no less than 60% of the net capital raised into a subsidiary, Starlight Global Real Assets LP, that will hold an actively managed global portfolio of real estate and infrastructure securities, managed by Dennis Mitchell of Starlight Capital, the investment manager of the Trust. The Trust will also invest in global real estate properties and global infrastructure assets, beginning with allocations of up to 20% of the net capital raised to each of the Starlight Canadian Residential Growth Fund (the "Starlight Fund"), a newly created fund to be managed by Daniel Drimmer of Starlight Group Property Holdings Inc., and the EagleCrest Infrastructure Canada LP ("EICLP"), managed by Fiera Infrastructure Inc. The Starlight Fund will make direct investments in Canadian multi-residential real estate properties and portfolios. EICLP holds investments in 24 infrastructure assets located in Canada, the U.S., the U.K. and Spain.
The offering is being conducted by a syndicate of Agents (collectively, the "Agents") co-led by CIBC Capital Markets and RBC Capital Markets, and including National Bank Financial Inc., Scotiabank, BMO Capital Markets, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Industrial Alliance Securities Inc., Manulife Securities Incorporated, Desjardins Securities Inc., and Mackie Research Capital Corporation.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the dealers noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
About Starlight Capital and Starlight Investments
Starlight Capital is an independent asset management firm. Our goal is to deliver superior risk adjusted returns to investors through a disciplined investment approach, Focused Business Investing. Starlight Capital is a wholly-owned subsidiary of Starlight Investments. Starlight Investments is a private, full service, real estate investment and asset management company. The firm is driven by an experienced team of over 150 real estate professionals managing over $9 billion of capital on behalf of pension funds, family offices, high net worth investors, retail investors and public REITs. Please visit us at www.starlightcapital.com and connect with us on LinkedIn.
SOURCE Starlight Capital
Lou Russo, Senior Vice President, National Sales & Distribution, 1-647-245-2076, [email protected]; Yamini Shinghal, Director, Marketing, 1-647-245-2078, [email protected]
Share this article