Life Cycle, a global equity fund manager led by Peter Rutter, was initially backed by Ironbark Asset Management, which later withdrew due to delays in launching the fund. However, according to Pinnacle managing director Ian Macoun, the business has now gained momentum.
“The investment and operating 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 the money.
The fund is expected to enter the second phase of its growth plan next year, focusing on new initiatives to expand its market presence.
As Pinnacle focuses more on long-term value, the company is also actively seeking new 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% stake in private equity and venture capital manager Five V.
Macoun highlighted that the company is pursuing domestic and international acquisitions to further diversify its portfolio.
“We are looking for investments that are strategically attractive and diversified from the current affiliate mix,” Macoun said.
“We are prepared to be patient and judicious with our capital…. but we continue to work on opportunities, both nationally and internationally.
“We are looking at opportunities internationally, but we have also looked at some opportunities in Australia; and we pursue high-demand asset classes including private credit, infrastructure, real estate and hedge funds.
Despite its growth ambitions, Pinnacle remains cautious.
Macoun stressed the importance of maintaining discipline when it comes to valuations and investment quality.
“While the universe of potential companies is large, we remain focused on partnering with only the highest quality founders and teams with significant growth potential,” he said.
Pinnacle recorded a record opening funds under management (FUM) of $110.1 billion on June 30, 2024, up 20% from the previous year, with retail FUM representing $28.8 billion and the international FUM $18.4 billion.
