OneVue charges toward public listing

Listed funds manager Perpetual and billionaire Alex Waislitz have invested in investment and administration platform business, OneVue, as it charges towards a public listing in the second quarter of 2014.

On Thursday OneVue announced it had completed the first round of an $8 million capital raising program, attracting $6.75 million from major investors including Perpetual and Waislitz’s Thorney Investment Group.

The remaining $1.25 million placement has been set aside for existing OneVue shareholders and staff.

The capital raising will fund OneVue’s expansion following its August acquisition of Computershare Fund Services, and strengthen its balance sheet, said OneVue chief executive Connie Mckeage.

“We had interest that far exceeded our capital raising target of $8 million,” she said.

Mckeage said the group would continue its push into the self-managed superannuation fund market, where it had a number of key distribution relationships with intermediaries such as financial planners and accountants, as well as third party brands that marketed directly to investors.

“The high calibre of new investors such as Perpetual and Thorney Investments highlights that our belief in OneVue being a market transformational business is increasingly gaining momentum across the financial services industry,” she said.

OneVue currently has over 200 advisers servicing clients through its investment platform packages and the business administers over $130 billion through its fund services business.

Mckeage said no further capital raising would be required before the IPO.