TORONTO, Nov. 11, 2022 /CNW/ – Starlight Investments Capital LP (“Starlight Capital“), on behalf of Starlight Private Global Real Assets Trust (the “Trust“) announced today the Trust’s financial results for the three and nine months ended September 30, 2022.
Portfolio Investments
As at September 30, 2022 (“Q3 2022“), the Trust had an investment of $6,716,199 (December 31, 2021 – $9,441,381) in Starlight Global Real Estate LP and Starlight Global Infrastructure LP (the “Public Portfolio“) and $34,348,682 in six investments in the private portfolio (December 31, 2021 – $24,461,023 in four investments) (the “Private Portfolio“, and collectively the “Portfolio“). The Public Portfolio had 71 investments with an effective market value of $5,825,607 in publicly traded global real estate and infrastructure securities.
The Public Portfolio’s investment portfolio remains liquid and the Trust does not anticipate any issues in being able to meet the liquidity needs of the Public Portfolio LP’s or the Trust.
Distributions
As at September 30, 2022, the Trust declared three distribution of $0.4086 per Series A Unit, three distribution of $0.4095 per Series F Unit and three distribution of 0.4143 per Series I Unit.
Quarterly Redemption of Units
On September 30, 2022, 102,207 series F units were redeemed under the quarterly redemption with a net asset value (“NAV“) of $12.68336 for total proceeds of $1,296,328.
| As at | As at December 31, 2021 | |
| Current assets | $41,451,290 | $37,341,842 |
| Current liabilities | 1,852,828 | 93,159 |
| Net assets attributable to holders of redeemable units per series | ||
| Series A | 27,895 | 24,928 |
| Series F | 39,569,316 | 37,222,695 |
| Series I | 1,251 | 1,060 |
| $39,598,462 | $37,248,683 |
The Trust’s financial performance and results of operations for the three months ended September 30, 2022 and 2021 are summarized below:
| Three months ended September 30, 2022 | Three months ended September 30, 2021 | |
| Investment gain (loss) | $3,859,964 | $1,782,841 |
| Expenses | (192,278) | (202,693) |
| Net Investment income (loss) | 3,667,686 | 1,580,148 |
| Increase/(decrease) in net assets attributable to holders of | $3,667,686 | $1,580,148 |
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties, including statements regarding the outlook for the Trust’s business and results of operations. Forward-looking statements (“FLS”) are provided for the purpose of assisting the reader in understanding the Trust’s financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management’s current expectations and plans relating to the future. Readers are cautioned such statements may not be appropriate for other purposes. FLS involve known and unknown risks and uncertainties, which may be general or specific and which give risk to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, assumptions may not be correct and objectives, strategic goals and priorities may not be achieved. FLS are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions.
Information contained in FLS is based upon certain material assumptions applied in drawing a conclusion or making a forecast or projection, including management’s perception of historical trends, current conditions and expected future developments, as well as other considerations believed to be appropriate in the circumstances. Although the FLS contained herein are based upon what Starlight Capital believe to be reasonable assumptions, Starlight Capital cannot be sure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS.
The forward-looking statements relate only to events or information as of the date on which the statements are made in this press release. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
The Trust’s investment objective is to provide unitholders with stable cash distributions and long-term capital appreciation through exposure to institutional quality real assets in the global real estate and global infrastructure sectors.
The Trust’s unaudited condensed interim financial statements, the notes thereto, and Management’s Discussion and Analysis for the three and nine month periods ended September 30, 2022, can be found on Starlight Capital’s website at www.starlightcapital.com or www.sedar.com.
Starlight Capital is an independent asset management firm offering mutual funds, exchange-traded funds, offering memorandum funds and structured products. Our goal is to deliver superior risk adjusted returns to investors through a disciplined investment approach, Focused Business Investing. Starlight Capital is a wholly owned subsidiary of Starlight Investments. Starlight Investments is a privately held, full service, multi-family and commercial real estate investment and asset management company. The firm manages over $25.0 billion of direct real estate as well as real estate investment securities on behalf of institutional joint ventures as well as publicly listed REITs, closed-end funds and investment funds, and is driven by an experienced team of over 360 professionals. Please visit us at www.starlightcapital.com and connect with us on LinkedIn.
SOURCE Starlight Private Global Real Assets Trust
