Scarcity Partners to tap market after selling $108m Evidentia stake
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The news: Scarcity Partners plans to raise new funds and bring in new investors after selling its 30% stake in managed accounts firm Evidentia just 12 months after it bought it.
The numbers: Scarcity, which takes minority stakes in various fund managers, confirmed it was set to realise $108 million from the sale of its share to GDG Group.
Having paid just $42 million for the equity in January last year, it will see Scarcity mint a 157% return on the investment in just 12 months.
What they said: Co-founder Adrian Whittingham said the transaction had delivered "outsized returns" for investors.
“We are committed to backing outstanding asset managers and will continue to seek high-potential investment opportunities," he said.
The context: Since being founded by a small group of ex-Pinnacle executives in 2023, Scarcity has moved quickly to snap up positions in three managers — Evidentia, Melbourne-based private credit fund Dinimus (now Privity Credit), and Singaporean VC firm January Capital.
The source: Scarcity Partners Note
