Life Cycle, a global equities fund manager led by Peter Rutter, was initially backed by Ironbark Asset Management, which later withdrew due to delays in the fund’s launch. However, according to Pinnacle’s managing director, Ian Macoun, the firm has now gained momentum.
“Investment and operational infrastructure has been built and tested,” Macoun announced at Pinnacle’s AGM this week, adding that Life Cycle, now a team of seven, is actively managing money.
The fund is set to enter the second phase of its growth plan next year, focusing on new initiatives to expand its market presence.
As Pinnacle sharpens its focus on long-term value, the company is also actively scouting further investment opportunities, particularly in high-demand sectors like private credit, infrastructure, real estate, and hedge funds.
Pinnacle’s last major investment was in December 2021, when it secured a 25 per cent stake in private equity and venture capital manager Five V.
Macoun emphasised that the firm is pursuing both domestic and international acquisitions to further diversify its portfolio.
“We seek investments that are strategically attractive and diversifying relative to the current affiliate composition,” Macoun said.
“We are prepared to be patient and judicious with our capital …. but we continue to work on opportunities, both domestically and internationally.
“We are seeking internationally based opportunities but also have looked at select opportunities in Australia; and we seek asset classes that are in high demand including private credit, infrastructure, real estate, and hedge funds.”
Despite its growth ambitions, Pinnacle remains cautious.
Macoun stressed the importance of maintaining discipline regarding valuations and investment quality.
“While the universe of potential firms is significant, we remain focused on partnering only with founders and teams of the highest quality with the potential for a significant runway of growth,” he said.
Pinnacle delivered a record opening funds under management (FUM) of $110.1 billion on 30 June 2024, up 20 per cent on a year earlier, with retail FUM making up $28.8 billion and international FUM $18.4 billion.
