{"id":240484,"date":"2022-08-10T14:33:19","date_gmt":"2022-08-10T18:33:19","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&p=240484"},"modified":"2022-08-10T14:33:19","modified_gmt":"2022-08-10T18:33:19","slug":"liberty-street-advisors-private-shares-fund-clears-1-billion-milestone","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/liberty-street-advisors-private-shares-fund-clears-1-billion-milestone\/","title":{"rendered":"Liberty Street Advisors Private Shares Fund Clears $1 Billion Milestone"},"content":{"rendered":"
Liberty Street Advisors Private Shares Fund Clears $1 Billion Milestone<\/h1>\n
August 9, 2022 | Liberty Street Advisors Inc.<\/p>\n
Liberty Street Advisors Inc. (\u201cLiberty Street\u201d), an experienced investment advisor committed to providing advisors and investors access to differentiated strategies through its selective multi-manager family of funds, today announced that The Private Shares Fund (the \u201cFund\u201d) has increased assets under management to more than $1 billion.<\/p>\n
\u201cI am truly humbled to reach this milestone, as it\u2019s a testament to the fact that our value proposition has resonated across an ultra-competitive investment landscape,\u201d said Kevin Moss, Liberty Street managing director and the Private Shares Fund president. \u201cSince the Fund\u2019s inception, our chief goal has been to democratize access to the private market, and late-stage, venture-backed, private companies specifically. This achievement wouldn\u2019t be possible without the combined efforts of our dedicated investment team, our trustees and our shareholders. I\u2019m grateful for the trust our investors continue to place in us.\u201d<\/p>\n
Liberty Street CEO Tim Reick added: \u201cOur investment team has done yeoman\u2019s work implementing the institutional framework that has allowed us to scale the strategy. As the democratization of the private market continues to accelerate, investors are still searching for opportunities that offer them liquidity options. This environment, coupled with the investment team\u2019s eight-year track record managing the Fund, gives me confidence that we can move forward with the momentum built over the past two years.\u201d<\/p>\n
Launched in 2014, the Private Shares Fund investment team is composed of eight professionals, whose backgrounds include venture capital, private equity, investment banking and portfolio management experience. The Fund seeks capital appreciation by investing in the equity securities of private, operating, late-stage, growth companies.<\/p>\n
Liberty Street has facilitated the Fund increasing its assets under management by approximately $723 million since it assumed management responsibilities for the Fund on Dec. 9, 2020. The Private Shares Fund\u2019s Class A shares (without load) have delivered annualized returns of 11.01% since inception, and 17.30% over the last three years as of June 30, 2022.<\/p>\n
\u201cI\u2019m thrilled that we have achieved such a significant milestone and am enthusiastic about the next phase of the Fund\u2019s growth,\u201d said Christian Munafo, Liberty Street CIO and Private Shares Fund portfolio manager. \u201cAs the types of high growth innovation companies that we target continue to stay private longer and grow into larger market capitalizations within the private market, we think it\u2019s increasingly important for all investors to have access to this potential alpha generation before they get acquired or go public.\u201d<\/p>\n
Continued Munafo: \u201cWe\u2019re well-positioned to continue working with various participants across the venture capital and growth ecosystem, while capitalizing on technology and innovation-driven opportunities across sectors including aerospace, finance, cybersecurity, healthcare, agriculture, transportation and e-commerce, among others, and I believe we\u2019ll continue to drive meaningful returns for our investors and shareholders.\u201d<\/p>\n
ABOUT THE PRIVATE SHARES FUND<\/strong><\/span><\/p>\n
The Private Shares Fund is a 1940 Act, closed-end interval fund that seeks to invest in a portfolio of private, late-stage, growth companies. While traditionally, such access to private companies has only been available to institutional and high net worth investors through high minimum, complex and paperwork laden private placement vehicles, the Fund provides all investors access to such companies, with a daily NAV, a quarterly repurchase program, no performance fees and simple 1099 tax reporting. Formerly named the Sharespost 100 Fund, the Fund changed its name to The Private Shares Fund on April 30, 2021.<\/span><\/p>\n
ABOUT LIBERTY STREET ADVISORS<\/strong><\/span><\/p>\n
Liberty Street Advisors, Inc. (“Liberty Street”) is an SEC registered investment advisor. The firm is located in New York City and launched its first fund in 2007. Liberty Street provides access to valuable and timely investment strategies designed to help investors and financial advisors meet the challenges of today’s market environment. As of June 30, 2022, Liberty Street manages seven mutual funds and an interval fund with collective assets under management of over $1.4 billion.<\/span><\/p>\n
Private Shares Fund Top 10 Holdings As of 07\/27\/2022*<\/span><\/p>\n
*Represents 28.9% of Fund holdings as of July 27, 2022. Holdings are subject to change. Not a recommendation to buy, sell, or hold any particular security. To view the Fund\u2019s complete holdings, visit privatesharesfund.com\/portfolio<\/a>.<\/span><\/p>\n