GQG Partners (ASX:GQG) said its GQG Private Capital Solutions business closed about AU$145 million for its initial private capital fund, according to a Wednesday filing with the Australian bourse.
The fund purchased stakes in Avante Capital Partners, Proterra Investment Partners, and Cordillera Investment Partners in May as seed investments from Pacific Current Group (ASX:PAC), financed by a loan arrangement from HSBC Bank USA, the filing said.
The closing will lead to the fund extinguishing the debt and eliminating the company's financial obligations, according to the filing.
GQG Partners shares rose more than 4% in afternoon trade Wednesday, while Pacific Current Group's shares slipped almost 1%.
Price (AUD): $2.36, Change: $+0.10, Percent Change: +4.42%
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