SPV4 (TVG Takeover 2.0)
New Investment Fund - Applications Now Open
About the Fund
Occasionally TAMIM will identify compelling opportunities to take advantage of unique situations relating to a single stock or an investment thesis. We structure a Special Purpose Vehicle (SPV) to allow our clients to take advantage of this situation.
Applications will close 22 November 2023, however, we do expect capacity to be filled well before this date.
This SPV (TVG TAKEOVER 2.0) will be similar to the last SPV in that we will be investing in a basket of companies which we have identified as being takeover targets. Once we have entered into positions, investors will have access to further information about the companies we have invested into. We will also be aiming at investing into and divesting of these opportunities once they are taken over or it becomes clear a takeover will not proceed. We envisage the process will be completed over a three year period.
We are limiting the capital raising and fund size to $5 million to take advantage of this opportunity.
For new investors the minimum investment amount is $100,000.
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TAMIM Portfolio Takeovers
Overall our portfolios have seen over 26 companies receiving takeover offers in the last 5 years.
The current environment is presenting further opportunity to invest into growing and profitable companies at depressed values that offer significant upside and takeover potential. We have looked at hundreds of companies since the launch of SPV3 and we are now starting to see new opportunities.
Characteristics of Target Companies
We are looking for the following characteristics in our target companies:
- Industry leading position which would be attractive to an acquirer looking to enter a new market or gain scale;
- Founder led businesses or management/board with large shareholding, aligning company interests with minority shareholders;
- Revenue growth and profitability are important attributes as acquirers are looking for earnings accretion;
- Strong balance sheet with low debt levels;
- Large strategic shareholder looking to exit;
- Board outlining a strategic review to realise shareholder value;
- Previous corporate interest in the company is a sign of potential takeover appeal in the future; and
- General industry consolidation.
The Portfolio Manager: Ron Shamgar
Ron Shamgar successfully managed the Australian Equity Strategies at TAMIM for five years, establishing himself as a top-performing fund manager. With over 20 years of active investing on the ASX, Ron’s passion for value investing and systematic approach to evaluating businesses shines through.
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