Overview
We have two major business activities, our Alternative Investment Funds business and our Activist Investment Fund business.
Our Alternative Funds business was launched in October 2006 with the raising of a South African real estate fund, South African Property Opportunities plc. In July 2007 we launched our second fund within our Alternative Funds business, PME African Infrastructure Opportunities plc. Principle Energy Limited, a renewable energy company, announced the closing of its first fund raising in December 2007. In August 2008 we announced the acquisition of 48% stake in Dawnay, Day Sirius Real Estate Asset Management Limited, now renamed to Principle Capital Sirius Real Estate Asset Management Limited. The Alternative Funds have been launched with dedicated specialist teams that we have engaged to manage the products, as well as local and strategic partners. The Activist Fund is our original fund, a listed closed-end fund, Principle Capital Investments Ltd ("PCIL").
At 31 December 2008, Principle Capital had assets under management (allowing for certain cross holdings) of £771 million (US$1.12 billion).
