Pengana Capital Group's Acquisition of Soul Patts' Share of Pengana Credit Pty Ltd

Pengana Capital Group Limited (ASX: $PCG) has acquired Washington H. Soul Pattinson Ltd's (ASX: SOL, 'Soul Patts') share of Pengana Credit Pty Ltd ('PCP'). Soul Patts remains Pengana's largest shareholder and a $200 million seed investor in the PCP global private credit portfolio. The transaction results in PCP becoming a wholly owned subsidiary of PCG, thereby providing PCG with the full impact of the economic ownership of PCP as well as simplifying the accounting for PCP, which will be consolidated.

Executive Commentary on Acquisition

The transaction to acquire Soul Patts' share of PCP is a significant step for Pengana Capital Group. It allows us to fully integrate PCP into our operations and streamline the accounting process. Soul Patts' continued support as our largest shareholder and significant investor in the PCP global private credit portfolio demonstrates confidence in our strategic direction and the opportunities within the private credit market.

Summary of Acquisition and Outlook

Pengana Capital Group's acquisition of Soul Patts' share of PCP has resulted in PCP becoming a wholly owned subsidiary, providing PCG with the full impact of economic ownership and simplifying the accounting process. The continued support from Soul Patts as the largest shareholder and a significant investor in the PCP global private credit portfolio bodes well for PCG's strategic direction. This acquisition aligns with PCG's ambitions to strengthen its position in the private credit market and signifies a positive outlook for the company's future in this sector.