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Pacific Current Group Limited - Special Call Transcript
Thank you for standing by, and welcome to the Pacific Current Group conference call. (Operator Instructions) I would now like to hand the conference over to Mr. Paul Greenwood, CEO and Managing Director. Please go ahead.
Thank you, and thanks for joining us. I apologize for the short notice on the telephone number being distributed.
I'd like to touch on 2 topics today. The first is the announcement of our investment in a firm called Pennybacker Capital and then the second is I'll touch on the market update that we've provided today as well.
So I'll start with the Pennybacker first.
On Friday, we signed an investment in Pennybacker. Pennybacker is in Austin, Texas-based private equity real estate firm. It's been around for about 13 years and manages about USD 1.9 billion. It has several strategies, has a value strategy, something called income and growth, and then sort of a growing credit platform as well. Pennybacker invests in and
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