The NEO Exchange (NEO) is proud to announce the Starlight Hybrid Global Real Assets Trust (the Trust) has closed its initial public offering (IPO) of $28,500,000 comprised of Series A, F, and C Units. Series A Units began trading on NEO today under the symbol SCHG.UN. This is the third corporate IPO on NEO. The Trust’s investment objective is to provide unitholders with stable monthly cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors.
Building on the success of Starlight Capitals debut global real estate and infrastructure funds, we are proud to launch our new Starlight Hybrid Global Real Assets Trust today on NEO, said Dennis Mitchell, Chief Executive Officer and Chief Investment Officer, Starlight Hybrid Global Real Assets Trust. The Trust will allow investors to benefit from our deep expertise and Focused Business Investing approach to global listed real estate and infrastructure securities. In addition, our partners, Starlight Investments and Fiera Infrastructure, will provide the trust with exclusive access to institutional quality private real estate and infrastructure investments. NEO embodies the characteristics of our ideal partner and has continued to demonstrate first-rate service throughout the listing process. They quickly examined our investment structure and provided a clear path forward toward our public launch today.
The Trust will invest no less than 60% of the net capital raised into a subsidiary, Starlight Global Real Assets LP, that will hold an actively-managed, global portfolio of real estate and infrastructure securities. It will also invest in global real estate properties and global infrastructure assets, beginning with allocations of up to 20% of the net capital raised to each of the Starlight Canadian Residential Growth Fund and EagleCrest Infrastructure Canada LP.
We are very proud to now list the Starlight Hybrid Global Real Assets Trust units and congratulate them on the completion of a successful initial public offering, said Jos Schmitt, President and CEO, NEO. It is rewarding to see that our dedication to responsive service and focus on reliable liquidity has given Starlight Capital the confidence to return to our exchange with another, more comprehensive listing. We are at our very best when we collaborate with fellow innovators, and today is no exception. As our partnership with Starlight Capital grows, so does our desire to do what is right for a healthier capital markets in Canada.
Investors can trade units of the Trust through their usual investment channels, including discount brokerage platforms and full-service dealers. The NEO Exchange is now home to eight corporate listings and over 65 fund listings from eleven providers.
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Aequitas NEO Exchange Inc. is the operator of Canadas next generation stock exchange, putting the needs of investors, businesses looking to raise capital and dealers first. Launched in March 2015, the NEO Exchange currently offers an innovative trading venue for all listed Canadian securities and value added listings process for capital raising companies and investment products, focused on liquidity, transparency and efficiency. For more information, please visit: NEOstockexchange.com
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