Perennial takes over Aus Unity’s healthcare fund

Perennial Partners and Australian Unity (AU) have jointly agreed to transfer the investment management rights of AU’s Future of Healthcare Fund to Perennial.

As part of the agreement, Perennial will also replace AU as trustee of the fund, while the latter’s fund managers, Victor Windeyer and Sam Walker, will move over to Perennial to continue their oversight of the fund.

The Future of Healthcare Fund, established four years ago by AU, invests in emerging and innovative healthcare businesses and assets that address future healthcare needs. Its portfolio includes Australian and global listed and unlisted companies in the pharmaceutical, life sciences, biotechnology, health IT, and medical device sectors.

AU states that the objective of the fund is to provide long-term capital growth to investors as well as to enhance health and wellbeing via investment in preventative and remedial healthcare and health-associated businesses and assets.

The fund has seen impressive performance over the 12 months to March 31, 2024, growing by more than 26%.

Executive chair of Perennial Partners, Anthony Patterson, said that “all necessary resources will continue to be committed to the management of the fund to ensure that investment opportunities in the healthcare sector can be captured”, adding that it will maintain the continuity of its current fund managers and investment strategy.

Patterson further noted that Windeyer and Walker “will be able to leverage from the substantial private markets deal flow that Perennial already enjoys which will benefit investors in the Future of Healthcare Fund”.

Ryan Banting, executive general manager – social infrastructure at AU, said that the transfer of the fund to Perennial would realise new opportunities to invest and scale.

Despite ending its management and trusteeship, Banting confirmed that AU will remain a significant investor in the fund.

Founded in 2000, Perennial Partners is a specialist, active investment management firm, teaming with investment managers to provide strategic, operational and distribution expertise.