Conexus Profile and Structure
Introduction
Conexus was established in October 2006 by Douglas Investments to provide Clients exposure to private equity investments.
In the opinion of Douglas Investments there are opportunities that have been inadequately recognized as a result of the specific circumstances that surround these investments. Conexus is structured to act as a capital partner to these companies in private equity style.
Structure
The Conexus structure consists of two entities:
Conexus Investment Fund Limited (“CIF”) which holds a portfolio of cash, near cash, hedge funds and quoted (relatively liquid) investments. This is to achieve a return on invested funds prior to being drawn down to meet investment opportunities in Conexus Capital Trust;
and
Conexus Capital Trust (“CCT”) which holds the private equity investments.
Funds committed by an Investor are reflected as a shareholding in CIF at the net asset value of the underlying portfolio. This shareholding also establishes a right for the Investor, at the discretion of Douglas Investments, to participate in all future private equity investments which are then held in CCT. Each private equity investment is reflected as a series (per private equity investment) of units held by the Investor. The Investor’s funds are drawn down from CIF to CCT by effecting a share buy back and investing the proceeds into the Trust. The invested amount is vested by the issue of a series of units in favour of the Investor.
Reporting
Douglas Investments hosts an annual Investors Meeting where Investors are provided with an Annual Report and a full presentation on the Fund’s investments and performance for the previous year. Investors are also sent a Quarterly Statement together with the Fact Sheet.
The non-executive directors of Conexus are Brian Bayne and Thierry Dalais, who also sit on the Advisory Board. The Fund is managed by Douglas Investments and is independently administered by Realtime Financial Solutions (Pty) Ltd.
Download Our Latest Fact Sheet, February 2013 (PDF, 148 KB)
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