The latest offerings in investments, such as funds and structured products, and other notable developments.

Waverton Investment Management
Waverton Investment Management has launched the Multi-Asset Growth Fund.

Algernon Percy is lead manager and the firm’s multi-asset team will co-manage the fund, which aims to achieve long-term capital growth through investment in a diversified and largely directly-invested portfolio of global equities, bonds and alternative asset classes. Domiciled in Ireland, Waverton believes that the MAG will be suitable for UK financial advisors, wealth managers and offshore private clients.

Advisors have called for a platform-friendly version of the Waverton Portfolio Fund, the firm said in explaining the new offering. It will sit alongside the Waverton Managed Portfolio Service and multi-asset fund range. It will be available on more than 20 platforms and will be risk rated by both Dynamic Planner and Defaqto. The annual management charge for platform investors is 0.4 per cent and the benchmark is UK CPI +3.5 per cent.

“This new fund will provide an additional means to access our flagship growth strategy, which has returned over 11 per cent during the last turbulent twelve months, and 63 per cent over a five-year period.

This new fund is particularly useful for advisors with clients who may require a single fund structure with CGT roll-up advantages,” Nick Tucker, chief executive, Waverton Investment Management, said.

Avista Capital Partners
Avista Capital Partners, a New York-based healthcare private equity firm, has held the final closing of Avista Capital Partners V, and its offshore version, Avista Capital Partners (Offshore) V. Fundraising beat the firm’s $775 million target, closing with $1.2 billion in committed capital.

Fund V has a diversified set of investors, including public pension funds, university endowments and foundations, family offices, insurance companies and asset managers across North America, Europe, Asia and the Middle East. 

“The rising global demand for healthcare products and services will continue to present a host of compelling investment opportunities where our sector expertise can drive value creation and generate strong outcomes for our investors,” Thompson Dean and David Burgstahler, managing partners and co-chief executives at Avista, said.

UBS acted as placement agent and Kirkland & Ellis provided legal counsel for Avista.

Avista Capital Partners was founded in 2005 and has invested more than $6 billion in more than 35 healthcare-related businesses worldwide.